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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, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
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