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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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- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
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