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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
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