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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- The University of Queensland
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Planning Commission, India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
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