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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, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
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- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
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