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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, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
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Showing 1316 to 1320 news of total 6871 |
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- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- White Energy Company Limited
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
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