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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, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
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