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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, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- Xindia Steels Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
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