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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
 The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contracting volumes of the respective segment remain low amidst a cocktail of different factors that have made both owners and shipbuilders focus on other sectors with Container one attracting most of the interest, followed by the Gas sector with massive orderbook plans having already begun. Among them, the steel prices and consequently the value of newbuildings have made owners pensive towards the construction of new vessels. Steel prices despite a recent downward correction are still on remarkable upper levels while both box ships and LNG vessels have occupied almost all the 2023-2024 slots meaning that any order is now dated for 2025 delivery onwards with shipbuilder participants happy to secure such units due to their higher profit margins. At the same time, a new paradigm with respect to the available tonnage supply has been evident during this year so far, in the sense that despite the softer Chinese demand, the shorter tonnage list is strong enough to support a multi-year upcycle.
According to our preliminary data, a total of fifty-one bulk carriers have been ordered during the first half of 2022. More specifically, twelve Handysize, twenty-five Ultramax, seven Kamsarmax, five Capesize and two Newcastlemax vessels were ordered so far this year accumulating a total amount of around 4.0 million dwt.
This amount is being added to an overall low orderbook to the fleet ratio which is standing now at 6.6%. More precisely, the largest rate is being witnessed in the Panamax/Kamsarmax sector with 8.2%, followed by Supramax/Ultramax with a 6.4% ratio, Capesize sector with a 6.2% and lastly the Handysizes with 4.8%. As far as the age is concerned, only 7.5% of the fleet is older than twenty years old while 20% of the fleet is under five years old. The low orderbook to fleet ratio is also being mirrored in the mediocre fleet growth of around 2.1-2.2% during 2022.
It is evident that the supply levels will remain in the owner's favor; while external factors including the high congestion levels, the redrawing of the traditional trade routes which are leading to a shift to longer trips, and the environmental regulations which will push more owners to dispose of their vintage units and to the adoption of slow steaming practices will further narrow down the supply list.
By Yiannis Parganas
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Australian Coal Association
- Agrawal Coal Company - India
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