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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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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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Showing 1406 to 1410 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
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