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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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Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
Wednesday, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
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- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Central Java Power - Indonesia
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