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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- The University of Queensland
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
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