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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, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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Showing 1241 to 1245 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
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