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