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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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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Minerals Council of Australia
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