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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- The University of Queensland
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
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