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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, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
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Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- The University of Queensland
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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