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