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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
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- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
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