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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Planning Commission, India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
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