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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
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