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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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Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
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- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
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