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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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Thursday, 11 June 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 ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Planning Commission, India
- VISA Power Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
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