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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
 Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resembles that of a ship sailing, for the past decade, in shallow and tidy waters trying to avoid groundings. It was caught on a grounding two years ago, but is now freed by the rising tide. The Captain is of course relieved to be able to set sail. But this relief must be tempered by the urgency to sail toward deeper seas before the receding waters beach the ship again.
Until the mid of 2018, all the forecasts for 2018 and 2019 reflected optimism. More than half of the world's countries were experiencing growth. There was a synchronized recovery resulting in faster and stronger growth in the near term. Unemployment has declined in USA, Europe and Japan, whilst inflation has not picked up, finding a point of golden balance. However, as the report from WBG points out, the medium term prospects tell a different story. Trade wars may be devastating and the protectionist threats have already cast their spell on the world's growth, with uncertainty killing investment. Obviously this is also directly affecting the shipping market; adding on top of this the 2020 Sulphur cap regulations and untested solutions, the future of coal and the additional capex for WBT the result is more uncertainty, which makes shipping professionals more reluctant.
Downside risks to global growth have risen in the past eight months and expectations for upside surprises have receded. Global growth downward revision during 2018 reflects events that suppressed activity in some major advanced economies, the negative effects of the trade threats and measures already implemented or approved, as well as a weaker outlook for some key emerging market and developing economies arising from country-specific factors, geopolitical tensions, and higher oil import bills.
On the ship supply side (>20,000dwt), the dry bulk fleet grew by 200 vessels in absolute terms since last year. Whilst 2018 will be remembered for the very few bulk carrier deliveries - from the 400 bulk carriers that were planned to be delivered in 2018 just 268 ships were delivered - there was also very low scrapping activity, just fifty bulk carriers were sold for demolition. For 2019 it is projected that shipbuilders will deliver about another 530 vessels. The orderbook has increased by about 200 vessels since the same time last year but if we go back another few years it is much smaller and appears much more reasonable. Compared to the existing fleet, new building orders are 7% for the Handysize, 6% for the Supramax and 10% for the Panamax/Kamsarmax sector and the Capesize sector is 11%.
The trade growth, i.e. demand for seaborne trade, in 2019 and 2020 and the fleet utilization will judge the fate of a lot of the older tonnage and whether the market is good enough to support additional investment (WBT) or not, in which case they will have to make way for the younger ones. Oil prices and the efficiency of each vessel will play a huge role on investment decisions. So, once again, we are approaching 2020 with uncertainty and volatility on both the demand and the supply side. 2019 is going to be interesting...
Happy New Year to All.
By Theodoros Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
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