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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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Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Edison Trading Spa - Italy
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
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