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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Australian Coal Association
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
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