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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, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
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- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
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