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