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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- The University of Queensland
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
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