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