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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, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
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