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