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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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Showing 1551 to 1555 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
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