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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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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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Showing 1516 to 1520 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Planning Commission, India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
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