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Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third quarter and will probably prove right those market specialists that predicted that tanker rates would be soaring coming into 2020 with the “IMO effect” ready to kick in.
The million dollar question is if this firm market recovery (both in asset prices as well as freight rates) is the beginning of a new cycle. What definitely helped boost earnings was the recent sanctions imposed by the USA to the Chinese Cosco tanker fleet that abruptly removed a significant amount of ships from the market and inevitably pushed the market to the recent highs. COSCO Dalian and its subsidiaries own 43 oil tankers, including 26 very large crude carriers (VLCCs) which consist over 3% of the VLCC fleet.
Despite the sanctions, the fundamental drive in this increase is still the coming IMO regulations that as many analysts predicted triggered an incremental move of cargoes from the desulphurization units towards major bunkering areas. Opportunities for profit were also created for traders finding market imbalances deriving from the shock of new regulations and the need to create a “new” mainstream fuel. It therefore seems that what we have been witnessing is not just a short lived spike but the start of the “IMO story”, which will be in full effect the first half of 2020.
On the Dry market, the BDI has been extremely volatile throughout the year, shifting sentiment several times as a result. The year kicked in with a steep decline amidst fears of the US-China trade talks, the Vale dam disaster and seasonal Chinese New Year celebrations declines.
Most feared 2019 could be a repeat of the lows observed back in 2016, while during Q1 we observed an SNP drought with only 103 bulk carriers changing hands. However, during the second quarter the market stabilized and increased steadily along with the feeling that the worst part of the year was already over and hopes for a rebound came along, with SNP transactions increasing to 137. The third quarter was overwhelming; freight rates increased rapidly and helped most companies return to the black, while more ships changed hands and transactions totaled 166. So when the last quarter begun, sentiment was firm and freights were high, while the majority of the industry was prepared for a very strong finish to the year.
To the surprise of most, the positive sentiment that prevailed during the past summer is currently questioned by the performance of the BDI and uncertainty over the new regulations has become a growing concern for dry bulk owners. Consequently, one would expect transactions to decline. However, SNP activity remained strong, with more than 85 transactions already confirmed half way into this quarter, while the majority of them was concluded to Greek owners, which itself constitutes a vote of confidence on an imminent rebound of the market sooner rather than later.
By Ilias M. Lalaounis
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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Wednesday, 26 February 20
SHIPPING MARKET INSIGHT - INTERMODAL
Coming from one of its busiest periods historically, with a list of scrubber and BWMS retrofits on a waiting list, the ship repair sector is witnes ...
Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
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Showing 1106 to 1110 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
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