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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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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
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