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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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Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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