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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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
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