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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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Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
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