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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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Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
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