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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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Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
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