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