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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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Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
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- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
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