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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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- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
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