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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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Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
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