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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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Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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Showing 1451 to 1455 news of total 6871 |
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- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Aditya Birla Group - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
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