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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
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