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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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Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
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