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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
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