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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, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- The University of Queensland
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Minerals Council of Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
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