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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- CNBM International Corporation - China
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