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