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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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Showing 1286 to 1290 news of total 6871 |
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- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Agrawal Coal Company - India
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