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