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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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Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- The University of Queensland
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
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