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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, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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Showing 1296 to 1300 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
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