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