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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
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