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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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Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
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Showing 1421 to 1425 news of total 6871 |
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- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
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