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