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Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the Middle East. The latest attacks on vessels and the downing of a US drone have profoundly advanced the cost of shipping oil from the Middle East. The Joint War Committee of Lloyd’s Market Association insurance body has reported in May, the addition of Persian Gulf and surrounding waters along with the Gulf of Oman to the list of areas under risk of “Hull War, Piracy, Terrorism and related perils”. The risks on stake have urged insurance companies posing high insurance premiums on maritime companies that operate through the Strait of Hormuz. Accordingly, war risk underwriters are charging additional premiums for vessels trading in the Middle East Gulf and the Gulf of Oman.
As known, it is the privilege of the insurers to invoice premium to shipowners, who may then endeavor to pass it on to charterers if the market situation and charter terms warrants so. For example, after the incidents, for an Aframax calling one port in the MEG, the premium could range from USD 40 to 50k. Thereafter, underwriters instead of insuring the entrance in the area are providing owners an offer basis the specific voyage to be performed in the area which may then be further negotiated.
Almost 30% of all crude oil supplies shipped pass through the thin canal of the Strait of Hormuz. Many argue that the threat to commercial shipping is obvious and hasn’t been seen in the region for decades. As reported by the chairman of Intertanko, “if the waters are becoming unsafe the supply of the entire Western world could be at risk”. Historically, escalations that disrupt MEG oil supplies are infrequent and thus as analyzed freight rates could increase due to owners avoiding the region. As known the oil-supply countries in the MEG area including Kuwait, Saudi Arabia, Iraq and Iran are accommodating close to 20% of the world’s oil demand that passes through the Strait of Hormuz.
The oil markets have overall remained relatively calm, although the fact that there was a second series of incidents since May, has definitely intensified concerns. During the days of the incident prices for Brent crude rose almost 4% to $61 a barrel, a level still much lower though compared to the $72 a barrel in mid-May. Thus, we did not view great increase in oil-prices and one of the reasons is that traders are possibly betting that the fiery tensions will not burst into a full-scale conflict. Additionally, worries on global growth on the back of the trade war together with US shale oil production growing at a fast pace have also kept the oil price increase in check.
The OPEC meeting at the beginning of this week came at a significant and unstable time for the oil market and as a further extension of the cuts did take place as it was anticipated by most investors, it will be interesting to see how strong the support on prices will be going forward.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
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