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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
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