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