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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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Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
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