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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 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
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