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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, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- White Energy Company Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
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