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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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Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
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- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
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