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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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Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
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