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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- White Energy Company Limited
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
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