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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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- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Australian Coal Association
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
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