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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, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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Showing 1226 to 1230 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
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