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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
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