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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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Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Australian Coal Association
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
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