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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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Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
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