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