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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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Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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Showing 1446 to 1450 news of total 6871 |
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- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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