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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, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Australian Coal Association
- MS Steel International - UAE
- CNBM International Corporation - China
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- The University of Queensland
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