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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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- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
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