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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, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Planning Commission, India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
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