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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, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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Showing 1446 to 1450 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
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