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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, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
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- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
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