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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 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
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