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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, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
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- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
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