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