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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, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
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- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
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