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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- The University of Queensland
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
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