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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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Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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Showing 1271 to 1275 news of total 6871 |
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- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
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