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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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Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
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- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
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