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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- The University of Queensland
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Australian Coal Association
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
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