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