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Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed in 2019.
In the tanker sector, 2019 is undoubtedly closing positively when compared to the previous two years. VLCC time charter earnings during October reached around $100,000/day, a level that has been sustained up until today. The one-year period was even quoted at $55,000/day at one point during the last quarter, which was an impressive increase of more than 40% compared to January 2019 levels. The United States sanctions against Iran, Venezuela and eventually vessels calling these ports seemed to have supported rates as a significant amount of tonnage was blacklisted and there unable to trade as before.
Apart from the sanctions, upcoming regulations have also given support to earnings in the sector. Indeed, during the second half of the year a big part of the fleet was in drydock for scrubber retrofitting purposes decreasing the tonnage available for trading as a result. Sanctions and retrofits together with seasonality created the perfect blend for the tanker market that is enjoying very firm levels up until today.
With regards to secondhand prices and following the increase on freight rates, asset values across all sizes and ages also increased. Lastly, as far as SnP transactions are concerned, the increase in MR sales is definitely worth mentioning, with year to date figures showing a 43% increase as owners seemed to be placing more and more confidence to this size as the year progressed.
Focusing on the dry bulk industry, it was a year with many ups and downs. After a very disappointing first half we witnessed a rally on freight rates that started as soon as July kicked off, with rates especially for Capes seeming unstoppable and reaching even five-year highs in some cases. The start of September marked the pick of the BDI for the year, with notable decreases having taken place since then.
Going forward and taking into consideration the change of regulations it seems to be very difficult to foresee any market reaction until February 2020. As far as SnP prices are concerned values have been softening especially for vessels older than 10 years old, while on the newbuilding front values have also been correcting downwards given the distinct lack of interest for dry bulk orders this year.
All in all, next year is expected to be a landmark year for the industry and undoubtedly everyone involved in shipping is eager to see what happens. We wish Happy New Year to everyone.
By George Panagopoulos
Research Analyst
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- The University of Queensland
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
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