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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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
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