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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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Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- MS Steel International - UAE
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
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