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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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- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
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