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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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Showing 1326 to 1330 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
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