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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
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