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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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Wednesday, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
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- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Independent Power Producers Association of India
- VISA Power Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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