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