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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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- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
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