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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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Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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Showing 1441 to 1445 news of total 6871 |
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- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Planning Commission, India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
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