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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, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
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Showing 1346 to 1350 news of total 6871 |
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- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
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