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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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Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
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- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Minerals Council of Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
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