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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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Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
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- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
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