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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Planning Commission, India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
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