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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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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Australian Coal Association
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
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