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Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor corrections that have been occurred lately, the BDI seems to have stabilized at high 1,000 points. Levels, which seem particularly attractive when compared to the recent past.
However, even more impressive is the recent tanker freight market rally, with the improvement on rates last week being unstoppable, where crude carriers are leading the way, and product carriers are for the time being following to a smaller extent.
More specifically, on the wet industry, which rightfully holds the majority of interest from people in the shipping industry. The continuation of the uncertainty with regards to the geopolitical arena together with winter period and with the upcoming regulation of IMO 2020, are creating a very promising future market. Even though the smaller product carriers, don’t appear to being in fashion with a crude carrier, the current trend for conversion of LRS into dirty traders, together with upcoming regulations, will possibly significantly improve this part of the market as well.
With regards to the wet SnP market, on vessels built post 2000, there are two trends that are being formed. On the one side are the crude carriers where the supply side of available sale candidates is limited. In detail, there are only 20 to 30 in total crude carriers available across all sizes, with the majority of them being Aframaxes and less being Suezmaxes or VLCCs. Moreover, concerning the age of the available for sale vessels, on Aframaxes the age range is from 10 to 17 years old, whereas on Suezmaxes and VLCCs the age is early to mid-2000. On the other side are product tankers, MR candidates, which are available for sale in larger numbers, and with regards to age are older than 10 years. In contrast with LR1 and LR2, which have limited available candidates for sale. Any further increase on freight rates in product carriers, will definitively lead to many vessels off the market.
As far as SnP values, if someone takes into account the freight, which is currently reported in the VLCC market, it is easy to understand that SnP prices are changing very quickly. Whether and to what extent prospective buyers are willing to pay for the new prices remains to be seen and is directly correlated with how freight rates will perform.
The rule of buy low and sell high, has been applied, however the coin has two options. Buy if you think that now is cheaper (and you are able to find a suitable vessel) from the future and sell if you have bought it cheaper, as conditions are created for a quick profit from flipping vessels that have been bought at lower prices in the past.
All in all, the following months are definitely hiding many surprises and hopefully will have a positive outcome in the end.
By Nassos Soulakis
SnP Broker
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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
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