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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.
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Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- The University of Queensland
- Marubeni Corporation - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
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