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