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Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the Middle East. The latest attacks on vessels and the downing of a US drone have profoundly advanced the cost of shipping oil from the Middle East. The Joint War Committee of Lloyd’s Market Association insurance body has reported in May, the addition of Persian Gulf and surrounding waters along with the Gulf of Oman to the list of areas under risk of “Hull War, Piracy, Terrorism and related perils”. The risks on stake have urged insurance companies posing high insurance premiums on maritime companies that operate through the Strait of Hormuz. Accordingly, war risk underwriters are charging additional premiums for vessels trading in the Middle East Gulf and the Gulf of Oman.
As known, it is the privilege of the insurers to invoice premium to shipowners, who may then endeavor to pass it on to charterers if the market situation and charter terms warrants so. For example, after the incidents, for an Aframax calling one port in the MEG, the premium could range from USD 40 to 50k. Thereafter, underwriters instead of insuring the entrance in the area are providing owners an offer basis the specific voyage to be performed in the area which may then be further negotiated.
Almost 30% of all crude oil supplies shipped pass through the thin canal of the Strait of Hormuz. Many argue that the threat to commercial shipping is obvious and hasn’t been seen in the region for decades. As reported by the chairman of Intertanko, “if the waters are becoming unsafe the supply of the entire Western world could be at risk”. Historically, escalations that disrupt MEG oil supplies are infrequent and thus as analyzed freight rates could increase due to owners avoiding the region. As known the oil-supply countries in the MEG area including Kuwait, Saudi Arabia, Iraq and Iran are accommodating close to 20% of the world’s oil demand that passes through the Strait of Hormuz.
The oil markets have overall remained relatively calm, although the fact that there was a second series of incidents since May, has definitely intensified concerns. During the days of the incident prices for Brent crude rose almost 4% to $61 a barrel, a level still much lower though compared to the $72 a barrel in mid-May. Thus, we did not view great increase in oil-prices and one of the reasons is that traders are possibly betting that the fiery tensions will not burst into a full-scale conflict. Additionally, worries on global growth on the back of the trade war together with US shale oil production growing at a fast pace have also kept the oil price increase in check.
The OPEC meeting at the beginning of this week came at a significant and unstable time for the oil market and as a further extension of the cuts did take place as it was anticipated by most investors, it will be interesting to see how strong the support on prices will be going forward.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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.
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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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Showing 1286 to 1290 news of total 6871 |
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- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
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