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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
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