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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
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