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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, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
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