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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
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