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