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Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
 Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a review of how much the shipping industry has been affected. As it was expected, the Covid-19 has a huge impact not only on the freight market of different sectors but also on the way that the shipping participants operate. It is essential for shipping participants to travel around the world; the prohibition of traveling added an additional burden to the shipping community. We witnessed cases where crews remained on ships beyond their contracts as they could only change in certain ports. We have seen SnP transactions fail due to the fact that the delivery of units was very difficult. Another reason that led to transaction failures was the negative momentum in the freight market; that led owners to withdraw from SnP transactions that they were about to complete in the view of a very negative freight market outlook.
Let us not forget that, as far as the dry sector is concerned, we saw the market being below 600 units from late January to June, with a few exceptions where the BDI posted at the region of 700 points. There was a time when we really did not witness any secondhand transaction while the freight market in the dry bulk sector was at significantly low levels. But, as soon as June kicked off, things changed a lot. The market started to recover with the BDI passing even the 2000 points. We suddenly saw several buyers leaving the sidelines and bid on ships. Many vessels were sold on a waiving inspection basis while their prices increased as the competition increased.
An example of such a price increase was the sale of a Japanese Supramax, 2008 built which was sold for USD 7.8 million back in March, while today, the owners for similar units are asking over USD 9.5 million. Prices for the other sizes followed the same trend with the exception of Handysize vessels; while we are noticing some increases in prices for such units, these improvements have not been as rapid as the market recovery.
As we are coming close to the end of 2020 and we are waiting for the vaccine against coronavirus that will boost the psychology worldwide and the global economy, it will be very interesting to see how the charter market will react. At the moment, there is some ground for optimism, and we hope that the coming year will provide a boost to World Trade and consequently positive fundamentals will arise for the shipping industry.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 06 September 24
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- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
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- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- The University of Queensland
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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