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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- PTC India Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
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