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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Central Electricity Authority - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
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