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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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Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
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