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