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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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Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- The University of Queensland
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
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