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Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarter of last year. However, the strong start of the year has been followed by a seasonal softening. Despite the 10% fall of the clean spot MR earnings in January (m-o-m basis), the earnings averaged at mid teen levels. The opening of some arbitrage windows, like the East to West movement of naphtha cargoes, healthy trade patterns in general and a solid growth in US exports were the main driving factors.
During February, the market eased back with the Chinese New Year holidays rendering a very quiet market in the East; however, average earnings for the first two months were still a lot higher compared to the same period in 2018. In March, unplanned refinery outages in the US, led to increased gasoline imports to the East and West Coast US, while West Africa’s demand growth also contributed in what was a strong earnings’ month in the western hemisphere. In the East, Middle East’s and India’s improvements stand out, with demand for Indian coastal business opening up to non-Indian flag ships.
Indicatively, below are the earning figures of some major product tanker owners in all sizes combined, for the first quarter of 2019. SCORPIO achieved average rates of $18,570/day, TORM achieved average rates of $17,949/day while Damico’s blended TCE was $14,057/day.
Being always a good indicator for spot market expectations, the one-year-time charter rates for the MR size have been gradually improving, settling at the end of Q1 at around $14,000/day and $15,500/day for conventional and Eco MRs, respectively.
As far as Q2 is concerned, April and May saw a slowdown for most of the product tanker markets, while LR2 earnings have remained relatively flat. A major factor of this slowdown has been the seasonal refinery maintenance in Europe, US, Middle East and Asia, which is currently at its peak.
The remaining segments experienced a fall in spot earnings and with Owners remaining bullish on TC rates, period business activity slowed down as charterers were assessing the earnings potential going into next year.
Looking forward, many tanker market participants have strong faith that certain short term and longer term fundamental developments will act as game changer for the product tanker market. Much has been said about the increase in refinery capacity and the new IMO 2020 regulations that will push the market to improved levels in the coming years, with some expecting to see this uptrend starting as early as in the second half of 2019.
By Stelios Kollintzas
Tanker Chartering 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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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Showing 1396 to 1400 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- The University of Queensland
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Sical Logistics Limited - India
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