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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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Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
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