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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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Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Deloitte Consulting - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Parliament of New Zealand
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
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