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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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Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
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