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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, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Xindia Steels Limited - India
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