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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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Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
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- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
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