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Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
 The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the rest of the world. It also plays an essential role for the Asian economies that are dependent on oil imports from the Middle East. Even when considering that the daily flows of oil through the channel account for around 30 percent of all petroleum products, the Middle East has never been entirely safe. The recent tanker attacks have brought even bigger concern.
Since May, six tanker vessels and one U.S. drone have been attacked near the Strait of Hormuz which is a strategically important waterway separating the United Arab Emirates, Oman and Iran. Fujairah, which is a trading center for refined products and crude is facing big challenges. War-risk premiums have increased significantly while freight rates remained more or less the same and as a result, oil tanker owners have started avoiding sending their ships to the region.
One of the biggest ones, Frontline Ltd, even temporarily stopped trading from the Gulf. “We have people of every nationality and vessels of every flag transiting that crucial sea lane,” the chairman of the International Association of Tanker Owners, Paolo d’Amico, told the New York Times after the second attack. “If the waters are becoming unsafe, the supply to the entire Western world could be at risk.”
“As a shipping company and part of the global shipping industry, we are taking the threat to our crew and ships very seriously,” Anthony Gurnee, chief executive of Ardmore Shipping, told CNBC this week. “At the moment, it is business as usual (but) insurance to transit the Strait of Hormuz has actually increased 10-fold in the last two months as a consequence of the attacks.” After the attacks, insurers start upping their premiums for tankers passing through the Strait of Hormuz and also oil prices spiked. Particularly, concerns regarding a possible military confrontation increased when Iran shot down a U.S drone and were further exacerbated after the US president’s tweet “Iran made a very big mistake!”. Following these we saw oil prices moving substantially up.
The 3 scenarios:
The Optimistic Scenario, is for the Strait of Hormuz to be closed for only a few days. In this case, the impact on global oil supplies would be minimal; however, we would still probably see a brief spike due to the initial uncertainty surrounding its outcome. Crude prices would possibly fall back to pre-crisis levels. The capacity of pipelines and in United Arab Emirates and Saudi Arabia should be effective in bypassing the Strait of Hormuz.
The Pessimistic Scenario, is for the Strait of Hormuz to be fully closed for the first 45 days, and straight-line resumption in oil tanker traffic over the next 45 days will lead to historically high crude oil prices on an inflation-adjusted basis for an extended period.
Finally, the Doomsday Scenario would be for the Strait to be closed for three-months. We cannot even imagine how high Crude oil prices would go and last but not least , they would not begin to fall back until the global economy collapses into deep recession.
By Apostolos Rompopoulos
Tanker Chartering Broker
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, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
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