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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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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
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