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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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Showing 1461 to 1465 news of total 6871 |
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- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
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