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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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Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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