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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
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