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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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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Tata Chemicals Ltd - India
- Australian Coal Association
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
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