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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.
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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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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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