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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, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
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