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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, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
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