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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, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- PTC India Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
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