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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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Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
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- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
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