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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, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
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Showing 1191 to 1195 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- The University of Queensland
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
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