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Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
 Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At the time of writing the vessel has been refloated allowing the traffic to resume, albeit the lineup of congestion built up significantly since the incident and may take days to resume to normal levels. More than 450 vessels of all types were waiting at the peak of congestion on either side of the canal to pass, while there were reported cases of ships ordered to deviate through the Cape of Good Hope.
The sectors impacted the most from this situation are those of tankers and containers.
We immediately saw an increase in tanker freight rates on routes which are directly related to the Suez Canal passage, with the increase in some cases being over 80.0% since the accident in 23rd March. The impact was immediate on Suezmax, with Aframax following, while the impact on LR2 and LR1s clean related trades could spill over into the next month, despite the situation being resolved.
The container sector has also been impacted as despite the refloating it is expected that it will take days for the backlog of vessels to pass the canal, while with the containers supply chain already strained, congestion at discharging ports could drive container freight rates back up after their recent easing from close to record high levels.
The impact in the dry bulk sector was expected to be lesser, however certain trades were at “risk”. More specifically mainly grain and iron ore trades out of Black Sea and USA/North Atlantic to the Far East are passing through the canal. More than 95 bulkers were waiting at the canal at the peak of the crisis and despite the fact that we didn’t see an immediate impact on freight, increased congestion when they discharge East might prompt an increase in rates later on.
Even one week of blockage has had an impact in commodities trading, adding to the ton miles through the deviation of Cape of Good Hope for those vessels that decided to do so. Supply chain disruptions via delivery delays and increased congestion at discharging ports at a 2nd stage are expected to extend well beyond the next week. Finally, it is worth noting that such incident might put back into focus the importance of economies of scale of the larger vessel classes, particularly in an increased bunkers consumption context that might be triggered and the relevant asset value differences revisited.
By Vasilis Moiris,
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Planning Commission, India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
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