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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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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
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