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Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor corrections that have been occurred lately, the BDI seems to have stabilized at high 1,000 points. Levels, which seem particularly attractive when compared to the recent past.
However, even more impressive is the recent tanker freight market rally, with the improvement on rates last week being unstoppable, where crude carriers are leading the way, and product carriers are for the time being following to a smaller extent.
More specifically, on the wet industry, which rightfully holds the majority of interest from people in the shipping industry. The continuation of the uncertainty with regards to the geopolitical arena together with winter period and with the upcoming regulation of IMO 2020, are creating a very promising future market. Even though the smaller product carriers, don’t appear to being in fashion with a crude carrier, the current trend for conversion of LRS into dirty traders, together with upcoming regulations, will possibly significantly improve this part of the market as well.
With regards to the wet SnP market, on vessels built post 2000, there are two trends that are being formed. On the one side are the crude carriers where the supply side of available sale candidates is limited. In detail, there are only 20 to 30 in total crude carriers available across all sizes, with the majority of them being Aframaxes and less being Suezmaxes or VLCCs. Moreover, concerning the age of the available for sale vessels, on Aframaxes the age range is from 10 to 17 years old, whereas on Suezmaxes and VLCCs the age is early to mid-2000. On the other side are product tankers, MR candidates, which are available for sale in larger numbers, and with regards to age are older than 10 years. In contrast with LR1 and LR2, which have limited available candidates for sale. Any further increase on freight rates in product carriers, will definitively lead to many vessels off the market.
As far as SnP values, if someone takes into account the freight, which is currently reported in the VLCC market, it is easy to understand that SnP prices are changing very quickly. Whether and to what extent prospective buyers are willing to pay for the new prices remains to be seen and is directly correlated with how freight rates will perform.
The rule of buy low and sell high, has been applied, however the coin has two options. Buy if you think that now is cheaper (and you are able to find a suitable vessel) from the future and sell if you have bought it cheaper, as conditions are created for a quick profit from flipping vessels that have been bought at lower prices in the past.
All in all, the following months are definitely hiding many surprises and hopefully will have a positive outcome in the end.
By Nassos Soulakis
SnP 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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Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
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- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
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