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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, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Australian Coal Association
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
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