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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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Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
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