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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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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Planning Commission, India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
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