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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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Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- The University of Queensland
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
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