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