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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
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