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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
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