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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- The University of Queensland
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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