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Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
 The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strain on healthcare systems, COVID-19 also adversely impacted global businesses, trade, supply chains and economies. The maritime industry has been faced with extended regulatory constraints on international, national and regional levels in an attempt to contain the spread of the pandemic. Our industry has once again dynamically adapted to change by embracing the “new normal” modus operandi that the virus has imposed on shipping.
On the dry bulk ship supply side, the world fleet has increased by about 350 vessels y-o-y at an approximate 3.4% annual growth rate whereas growth rates in 2019 and 2018 were 2.5% and 2% respectively. The current dry bulk orderbook – excluding slippage/cancellations – stands below 6% of the world fleet. As expected, dry bulk order replenishment in 2020 has been minimal to date; the sector’s orderbook diminished y-o-y by about 200 vessels. The number of vessels aged over 25 years has increased by around 50 from last September while 20-plus year-old bulk carriers constitute about 9.5% of the dry bulk fleet.
The 171-tanker y-o-y vessel fleet increase (just over 3% of total fleet) was led by the MR segment and comprised of 74 MR, 40 VLCC, 18 Suezmax, 16 Aframax/LR2, 14 Handy and 9 Panamax/LR1 vessel additions. All-in-all this was a good year for tankers; the tanker orderbook is marginally smaller as compared to September 2019 – it is down by ca. 15 vessels. It is worth noting that the tanker orderbook had declined by over 100 vessels last year. The current tanker orderbook to fleet ratio is about 7% which is a 5-year low and the 20-plus year-old vessel fleet recorded an increase of around 100 ships.
The tough measures employed globally to limit the spread of COVID-19 have caused an economic slowdown in both emerging and developed nations. A number of countries have thus far avoided severe economic adversities via the use of aid from sizeable fiscal and monetary policy support packages. Economic growth forecasts for all regions are dire and a worldwide GDP contraction is projected (at least) for 2020. However, the current freight market (especially for the dry segment) illustrates that there is still a growing demand for seaborne transportation. It can be argued that the pandemic is just an “additional” disruption which the shipping industry is charged with tackling. This disruption is analogous to previous shipping market suppressants such as production interruptions, economic concerns and political instability. At the end of the day, one has to be reminded that shipping is an infinite game and its perpetuation should be the key governing objective behind all of its players.
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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Aditya Birla Group - India
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