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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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Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
Thursday, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
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- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- The University of Queensland
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
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