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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, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
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