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Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
 Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, many owners abstain from the newbuilding realm, especially in the wet and dry sector, while sticking to ageing fleets. During 1H22, fleet grew by 1.4% (est. 2.8% in 2022), which is way below the 10-year average growth of 3.6%. While new orders are not coming in fast enough to halt the trend of an ageing fleet, the introduction of EEXI, CII and EU ETS at the beginning of 2023, has resulted in a record of 61% of newbuild orders being alternative fuelled.
According to our data, tanker fleet renewal remains muted across 1H22. Overall, 31 vessels have been ordered within 2022 in the wet sector (with the orderbook standing at 5% of fleet capacity), of which 1 is methanol & ammonia ready, 1 is methanol fuelled, 2 are battery powered and 2 are LNG fuelled. With risks to the tanker demand still prevailing on the back of macroeconomic factors and high oil prices, the tanker market has witnessed significantly improved conditions in recent months, underpinned by shifts in trade patterns resulting in tonne-mile increase. Low stocks, paired with high refinery margins are expected to further boost trade growth in seaborne volumes and tonne-miles and contribute to the revival of an ageing fleet.
On the dry front, contracting activity hit low levels, partly on the back of uncertainty over decarbonization trends. Current orderbook stands at 7% of the fleet capacity, marking a 30-year low, which suggests a very limited growth capacity. According to our records, 85 bulkers have been ordered during 1H22, of which 5 are LNG fuelled or dual-fuelled, 3 being ammonia-ready/fuelled and 25 meeting EEDI phase 3 standards. Overall, 14 % of the total orderbook are alternative fuel capable, with Capesize segment leading the decarbonization pathway.
On the container front, however, the market sentiment is bullish with an orderbook at 28% of the fleet capacity. Amid disruptions to the world trade caused by the pandemic and a shortage of new vessels, freights have been rallying and therefore, fuelling owners’ appetite for boxhsips, which has prevailed during 1H22. More specifically, out of the total of 295 vessels ordered, 57 are dual-fuelled and LNG fuelled, 32 are methanol and ammonia-ready, while 31 meet EEDI phase 3 standards.
Newbuilding ordering activity has further been supported by the recent spree in LNG contracts. According to our data, contracting activity in the sector hit record highs with a total of 112 new vessels ordered within 2022, boosting the orderbook to 37% of the fleet capacity. Berths for the Qatar LNG project are monopolizing the owners’ interest, providing further support to the market. Out of the total of 112 vessels, 32 are booked for the Qatari project and 6 of them are dual or LNG-fuelled. Further supported by growth in LNG tonne-mile trade on the back of the sanctions on Russian gas from EU/US, and the recently announced plan for expansion of Qatar’s mega-plant and Cheniere’s Corpus Chritsti plant, market sentiment for LNG contracting activity remains firm.
By Chara Georgousi
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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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
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