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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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Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
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Showing 1216 to 1220 news of total 6871 |
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- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- White Energy Company Limited
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
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