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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
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