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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Bhatia International Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
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