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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, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Planning Commission, India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Economic Council, Georgia
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