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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
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