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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
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