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