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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, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Australian Coal Association
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
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