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Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
 Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in combination with the deadly dam accident in Brazil earlier this year. The latter is a serious disruption that has already had an immediate negative impact on Capesize earnings. Brazil is the world’s second largest iron ore producer country after Australia, with approx. 70% of exports going to East Asia, and most iron ore consists of the highest quality found worldwide that does not require much processing. In addition, other production sites in Brazil are now in the public eye and currently under scrutiny when it comes down to their procedures, safety protocols and infrastructure and might not be able to increase production as desired. Hence, the imminent decrease of Brazil’s output will definitely reduce ton-mile revenue for Capes. The question now is if China is able to, and if they will respond with an increase of their domestic production from their high-cost mines, which will furthermore keep Cape revenues from rebounding to previous higher observed levels.
Besides the Capesize segment, the sudden drop and the swift reversal of sentiment was observed across all major trading routes and all ship sizes. This could be due to the turbulence deriving from the US-China trade war. While many reports/forecasts have been published and a lot of opinions have been heard, the only sure thing is that it adds uncertainty to the an already worrying global economy and a puzzled (amid coming regulations) shipping ecosystem. In the beginning, when the second worldwide largest economy showed signals of slowing down and seemed unable to maintain growth figures, analysts were pointing to the trade war. Recently though, many are wondering if a Chinese structural and fundamental problem will soon surface. In my point of view, if such problem does exist, the shipping world should focus on how the Chinese administration would tackle it. The country’s administration is currently signaling potential further stimulus measures and several are debating if such a program will have a positive impact on seaborne trade and to what degree.
The very slow fresh cargo supply of the past couple of months resulted in a slowdown of SnP activity, which is down 33% ytd. However, from the start of last week a more normal flow of cargo is observed and the BDI showed signs of recovering. At the same time, comparing past week’s SnP market to the start of this month we noted fresh prospective buyers coming on-board ships, while proven buyers took the opportunity to test sellers with levels depicting current market conditions and establishing new market levels.
Whilst some owners worry that we are entering a global bear market and are skeptical if this downturn was an indicator of a more structural issue, the BDI is now on a positive trend and others believe that we are heading towards more stable days having just experienced a short parenthesis in a market that is generally moving towards a healthy recovery and in that respect they maintain their bullish views and appetite for candidates offered at levels in line with current freight rates.
By Ilias M. Lalaounis
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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Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
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