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Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
 Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the industry, but so far it seems that those who feared of major problems for global shipping have not been verified and it looks like we have avoided the destructive consequences. Lack of availability of the VLSFO, massive breakdowns of main engines from poor blends, detentions from non-compliance where just some of the warnings and the possible problems that many were expecting, and none of it has happened so far, at least to a widespread extent. It hasn't been smooth, but fortunately there hasn't been any disruption of the world trade.
Unavailability of the fuel which was for a long time the biggest concern does not seem to be an issue; compliant fuels are available and supply will only improve. Also, although it may be too soon to spot a pattern from the incompatibility from the fuel blends, so far there have been no major events.
From the world fleet of thousands of vessels, we have the first reported cases of breaches of compliance with the IMO2020, as the Chinese authorities have caught two vessels for low sulphur fuel violations. There can be fines or detentions but I would guess that it is still too early and the authorities are still a bit lenient on imposing strict penalties.
The biggest problem is the price of the fuel, which is very similar to MGO and very close to the highest levels that the shipowners have ever paid for heavy fuel. This is not entirely an IMO2020 effect, the high oil prices are mostly courtesy of the trade wars, torpedo attacks, air strikes, missile strikes and the other events that sent the oil price to the recent highs. However, the spread between the compliant fuels and the HFO, which is currently getting cheaper, has peaked from $280/mt up to more than $400/mt in some major bunkering ports and the fact is that most owners are experiencing high and uncertain heavy fuel oil price levels.
So this is good news for those owners who rushed to install scrubbers, invested millions and suffered 60 days or more of lost earnings. It's payback time for them as they get better charter rates and see their investment's payback time to get shorter and shorter.
We expect the 0.5% compliant fuel to get increasingly cheaper as more of the product becomes available, refinery inventory builds up, and as more companies and tankers/barges start delivering it. Furthermore, according to news agency Reuters, China has approved a long-awaited tax waiver on exports of the compliant fuel, paving the way for Chinese refiners to boost production of the 0.5%. Although initially shipments will focus on the coastal marine fuel market, this tax waiver will definitely impact both the supply and the price of the VLSFO.
Global shipping is a beast, an enormous organism, that at first seems to be very slow to react, but in fact once again it has proven to be very flexible and relatively quick in adapting. Most shipowners have been operationally well prepared in making the transition smooth and are now ready to focus in the commercial side of things and the shipping market itself.
By Theodore Ntalakos
SnP Broker
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.
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Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Australian Coal Association
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
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