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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Parliament of New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
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