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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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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
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