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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, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
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