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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, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
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