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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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