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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
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