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