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Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the global social and economic effects of Covid-19 pandemic during the first half of 2020.
The newbuilding sector has been rather discouraging in terms of its activity levels over the past summer lull period of time. Over the past summer months, the asset investment decision between purchasing a newbuilding versus a modern secondhand dry bulk vessel has been illustrated. Owners are inclined to choose respective modern ships owing to the lucrative price discounts on display over pricey, time and capital intensive newbuildings. Both vessel investments do not differ significantly in terms of operational efficiencies. Sectoral newbuilding analysis has shown that dry bulk vessel orders remained at significant lows over the past summer months whereas tanker candidates (especially MR and clean product vessels) monopolized the global vessel orderbook with volumes however being at low levels.
Owners are not able to pin down their future green fleet-composition strategies adding an extra burden on shipyards which are already struggling to stay afloat during the pandemic. The shipping industry’s “divided” view on the commercial and long-term implementation feasibility of eco-friendliness and sustainability is causing concern and investment ambiguity. The key rationale behind this uncertainty is that there is a need to promote decarbonization in shipping by reducing its carbon footprint. This will be achieved through the further digitization of vessels and their navigation technologies. Current eco-friendly alternatives in shipping include LNG-fueled vessels & carrier of ammonia, alternative propulsion fuels and batteries. The path towards greener shipping is non-trivial and most definitely non-obvious. Therefore, this cloud of uncertainty regarding eco-friendliness has adversely impacted newbuilding orders.
This widespread scepticism is more than justified when taking the example of scrubbers into consideration. Up to now scrubber installations have simultaneously seen a decent amount of praise and criticism. Scrubbers have not yet been proven to be environmentally friendly and their exact effects on the environment remain to be seen. In the end of 2019, the low Sulphur to high Sulphur fuel oil price differential was over $350/ton, which rendered the decision to install scrubbers an intuitive one. However, with the differential falling to below half the aforementioned value, scrubber adoptions have seen a rapid cessation, and this has adversely impacted the respective investor sentiment for eco-friendly newbuildings further.
The last quarter of the year is ahead us, however the economic fundamentals remain weak and poised towards a bleak year over year newbuilding orderbook. The soft freight market activity in both the dry bulk and tanker sector coupled with the aforementioned necessity for environmentally friendly adoptions have pushed potential newbuilding investors to the sidelines. This new reality, has intensified the competition among shipyards for the less available newbuilding order market share. Nonetheless, in every crisis there is always a story silver lining which in the newbuilding front is depicted by the smiles of owners who are destined to see a substantial overall fleet supply decrease with the current year contracting activity being analogous to the 2017 very low levels.
By Yiannis Parganas
Market 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.
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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
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 ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
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