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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
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