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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
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