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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
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