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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, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
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Showing 1456 to 1460 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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