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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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Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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Showing 1521 to 1525 news of total 6871 |
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- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
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