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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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Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
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