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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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Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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Showing 1191 to 1195 news of total 6871 |
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- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- GMR Energy Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
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