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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, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
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