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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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Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
Wednesday, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
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- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
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