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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, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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Showing 1386 to 1390 news of total 6871 |
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- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
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