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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
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