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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
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