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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
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