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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
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