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