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Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
 Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the industry, but so far it seems that those who feared of major problems for global shipping have not been verified and it looks like we have avoided the destructive consequences. Lack of availability of the VLSFO, massive breakdowns of main engines from poor blends, detentions from non-compliance where just some of the warnings and the possible problems that many were expecting, and none of it has happened so far, at least to a widespread extent. It hasn't been smooth, but fortunately there hasn't been any disruption of the world trade.
Unavailability of the fuel which was for a long time the biggest concern does not seem to be an issue; compliant fuels are available and supply will only improve. Also, although it may be too soon to spot a pattern from the incompatibility from the fuel blends, so far there have been no major events.
From the world fleet of thousands of vessels, we have the first reported cases of breaches of compliance with the IMO2020, as the Chinese authorities have caught two vessels for low sulphur fuel violations. There can be fines or detentions but I would guess that it is still too early and the authorities are still a bit lenient on imposing strict penalties.
The biggest problem is the price of the fuel, which is very similar to MGO and very close to the highest levels that the shipowners have ever paid for heavy fuel. This is not entirely an IMO2020 effect, the high oil prices are mostly courtesy of the trade wars, torpedo attacks, air strikes, missile strikes and the other events that sent the oil price to the recent highs. However, the spread between the compliant fuels and the HFO, which is currently getting cheaper, has peaked from $280/mt up to more than $400/mt in some major bunkering ports and the fact is that most owners are experiencing high and uncertain heavy fuel oil price levels.
So this is good news for those owners who rushed to install scrubbers, invested millions and suffered 60 days or more of lost earnings. It's payback time for them as they get better charter rates and see their investment's payback time to get shorter and shorter.
We expect the 0.5% compliant fuel to get increasingly cheaper as more of the product becomes available, refinery inventory builds up, and as more companies and tankers/barges start delivering it. Furthermore, according to news agency Reuters, China has approved a long-awaited tax waiver on exports of the compliant fuel, paving the way for Chinese refiners to boost production of the 0.5%. Although initially shipments will focus on the coastal marine fuel market, this tax waiver will definitely impact both the supply and the price of the VLSFO.
Global shipping is a beast, an enormous organism, that at first seems to be very slow to react, but in fact once again it has proven to be very flexible and relatively quick in adapting. Most shipowners have been operationally well prepared in making the transition smooth and are now ready to focus in the commercial side of things and the shipping market itself.
By Theodore Ntalakos
SnP Broker
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.
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- PTC India Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Planning Commission, India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
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