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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
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