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Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed in 2019.
In the tanker sector, 2019 is undoubtedly closing positively when compared to the previous two years. VLCC time charter earnings during October reached around $100,000/day, a level that has been sustained up until today. The one-year period was even quoted at $55,000/day at one point during the last quarter, which was an impressive increase of more than 40% compared to January 2019 levels. The United States sanctions against Iran, Venezuela and eventually vessels calling these ports seemed to have supported rates as a significant amount of tonnage was blacklisted and there unable to trade as before.
Apart from the sanctions, upcoming regulations have also given support to earnings in the sector. Indeed, during the second half of the year a big part of the fleet was in drydock for scrubber retrofitting purposes decreasing the tonnage available for trading as a result. Sanctions and retrofits together with seasonality created the perfect blend for the tanker market that is enjoying very firm levels up until today.
With regards to secondhand prices and following the increase on freight rates, asset values across all sizes and ages also increased. Lastly, as far as SnP transactions are concerned, the increase in MR sales is definitely worth mentioning, with year to date figures showing a 43% increase as owners seemed to be placing more and more confidence to this size as the year progressed.
Focusing on the dry bulk industry, it was a year with many ups and downs. After a very disappointing first half we witnessed a rally on freight rates that started as soon as July kicked off, with rates especially for Capes seeming unstoppable and reaching even five-year highs in some cases. The start of September marked the pick of the BDI for the year, with notable decreases having taken place since then.
Going forward and taking into consideration the change of regulations it seems to be very difficult to foresee any market reaction until February 2020. As far as SnP prices are concerned values have been softening especially for vessels older than 10 years old, while on the newbuilding front values have also been correcting downwards given the distinct lack of interest for dry bulk orders this year.
All in all, next year is expected to be a landmark year for the industry and undoubtedly everyone involved in shipping is eager to see what happens. We wish Happy New Year to everyone.
By George Panagopoulos
Research Analyst
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.
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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- The University of Queensland
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
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