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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- PTC India Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
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