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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, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
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