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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Economic Council, Georgia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
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