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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
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