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