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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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Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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Showing 1396 to 1400 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Minerals Council of Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
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