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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
 Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resembles that of a ship sailing, for the past decade, in shallow and tidy waters trying to avoid groundings. It was caught on a grounding two years ago, but is now freed by the rising tide. The Captain is of course relieved to be able to set sail. But this relief must be tempered by the urgency to sail toward deeper seas before the receding waters beach the ship again.
Until the mid of 2018, all the forecasts for 2018 and 2019 reflected optimism. More than half of the world's countries were experiencing growth. There was a synchronized recovery resulting in faster and stronger growth in the near term. Unemployment has declined in USA, Europe and Japan, whilst inflation has not picked up, finding a point of golden balance. However, as the report from WBG points out, the medium term prospects tell a different story. Trade wars may be devastating and the protectionist threats have already cast their spell on the world's growth, with uncertainty killing investment. Obviously this is also directly affecting the shipping market; adding on top of this the 2020 Sulphur cap regulations and untested solutions, the future of coal and the additional capex for WBT the result is more uncertainty, which makes shipping professionals more reluctant.
Downside risks to global growth have risen in the past eight months and expectations for upside surprises have receded. Global growth downward revision during 2018 reflects events that suppressed activity in some major advanced economies, the negative effects of the trade threats and measures already implemented or approved, as well as a weaker outlook for some key emerging market and developing economies arising from country-specific factors, geopolitical tensions, and higher oil import bills.
On the ship supply side (>20,000dwt), the dry bulk fleet grew by 200 vessels in absolute terms since last year. Whilst 2018 will be remembered for the very few bulk carrier deliveries - from the 400 bulk carriers that were planned to be delivered in 2018 just 268 ships were delivered - there was also very low scrapping activity, just fifty bulk carriers were sold for demolition. For 2019 it is projected that shipbuilders will deliver about another 530 vessels. The orderbook has increased by about 200 vessels since the same time last year but if we go back another few years it is much smaller and appears much more reasonable. Compared to the existing fleet, new building orders are 7% for the Handysize, 6% for the Supramax and 10% for the Panamax/Kamsarmax sector and the Capesize sector is 11%.
The trade growth, i.e. demand for seaborne trade, in 2019 and 2020 and the fleet utilization will judge the fate of a lot of the older tonnage and whether the market is good enough to support additional investment (WBT) or not, in which case they will have to make way for the younger ones. Oil prices and the efficiency of each vessel will play a huge role on investment decisions. So, once again, we are approaching 2020 with uncertainty and volatility on both the demand and the supply side. 2019 is going to be interesting...
Happy New Year to All.
By Theodoros Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
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