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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
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