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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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Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
Thursday, 04 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 ...
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- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- ASAPP Information Group - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
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