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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, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
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- The Treasury - Australian Government
- Planning Commission, India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
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