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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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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Showing 1411 to 1415 news of total 6871 |
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- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
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