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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- The Treasury - Australian Government
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
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