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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarter of last year. However, the strong start of the year has been followed by a seasonal softening. Despite the 10% fall of the clean spot MR earnings in January (m-o-m basis), the earnings averaged at mid teen levels. The opening of some arbitrage windows, like the East to West movement of naphtha cargoes, healthy trade patterns in general and a solid growth in US exports were the main driving factors.
During February, the market eased back with the Chinese New Year holidays rendering a very quiet market in the East; however, average earnings for the first two months were still a lot higher compared to the same period in 2018. In March, unplanned refinery outages in the US, led to increased gasoline imports to the East and West Coast US, while West Africa’s demand growth also contributed in what was a strong earnings’ month in the western hemisphere. In the East, Middle East’s and India’s improvements stand out, with demand for Indian coastal business opening up to non-Indian flag ships.
Indicatively, below are the earning figures of some major product tanker owners in all sizes combined, for the first quarter of 2019. SCORPIO achieved average rates of $18,570/day, TORM achieved average rates of $17,949/day while Damico’s blended TCE was $14,057/day.
Being always a good indicator for spot market expectations, the one-year-time charter rates for the MR size have been gradually improving, settling at the end of Q1 at around $14,000/day and $15,500/day for conventional and Eco MRs, respectively.
As far as Q2 is concerned, April and May saw a slowdown for most of the product tanker markets, while LR2 earnings have remained relatively flat. A major factor of this slowdown has been the seasonal refinery maintenance in Europe, US, Middle East and Asia, which is currently at its peak.
The remaining segments experienced a fall in spot earnings and with Owners remaining bullish on TC rates, period business activity slowed down as charterers were assessing the earnings potential going into next year.
Looking forward, many tanker market participants have strong faith that certain short term and longer term fundamental developments will act as game changer for the product tanker market. Much has been said about the increase in refinery capacity and the new IMO 2020 regulations that will push the market to improved levels in the coming years, with some expecting to see this uptrend starting as early as in the second half of 2019.
By Stelios Kollintzas
Tanker Chartering 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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
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