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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, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
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- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
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