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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
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