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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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Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
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- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
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