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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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Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
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- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
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