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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, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- White Energy Company Limited
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
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