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Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
 Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in combination with the deadly dam accident in Brazil earlier this year. The latter is a serious disruption that has already had an immediate negative impact on Capesize earnings. Brazil is the world’s second largest iron ore producer country after Australia, with approx. 70% of exports going to East Asia, and most iron ore consists of the highest quality found worldwide that does not require much processing. In addition, other production sites in Brazil are now in the public eye and currently under scrutiny when it comes down to their procedures, safety protocols and infrastructure and might not be able to increase production as desired. Hence, the imminent decrease of Brazil’s output will definitely reduce ton-mile revenue for Capes. The question now is if China is able to, and if they will respond with an increase of their domestic production from their high-cost mines, which will furthermore keep Cape revenues from rebounding to previous higher observed levels.
Besides the Capesize segment, the sudden drop and the swift reversal of sentiment was observed across all major trading routes and all ship sizes. This could be due to the turbulence deriving from the US-China trade war. While many reports/forecasts have been published and a lot of opinions have been heard, the only sure thing is that it adds uncertainty to the an already worrying global economy and a puzzled (amid coming regulations) shipping ecosystem. In the beginning, when the second worldwide largest economy showed signals of slowing down and seemed unable to maintain growth figures, analysts were pointing to the trade war. Recently though, many are wondering if a Chinese structural and fundamental problem will soon surface. In my point of view, if such problem does exist, the shipping world should focus on how the Chinese administration would tackle it. The country’s administration is currently signaling potential further stimulus measures and several are debating if such a program will have a positive impact on seaborne trade and to what degree.
The very slow fresh cargo supply of the past couple of months resulted in a slowdown of SnP activity, which is down 33% ytd. However, from the start of last week a more normal flow of cargo is observed and the BDI showed signs of recovering. At the same time, comparing past week’s SnP market to the start of this month we noted fresh prospective buyers coming on-board ships, while proven buyers took the opportunity to test sellers with levels depicting current market conditions and establishing new market levels.
Whilst some owners worry that we are entering a global bear market and are skeptical if this downturn was an indicator of a more structural issue, the BDI is now on a positive trend and others believe that we are heading towards more stable days having just experienced a short parenthesis in a market that is generally moving towards a healthy recovery and in that respect they maintain their bullish views and appetite for candidates offered at levels in line with current freight rates.
By Ilias M. Lalaounis
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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Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
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