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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Australian Coal Association
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
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