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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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Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
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- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- PTC India Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Economic Council, Georgia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
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