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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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Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
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- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Australian Coal Association
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
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