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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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Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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Showing 1396 to 1400 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Economic Council, Georgia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
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