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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- The University of Queensland
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
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