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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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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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Showing 1386 to 1390 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
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