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Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
 The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years old) fleet is similar for both segments being shy one-fifth of their respective fleets, the dry bulk order book is at a historical low, while the crude one has grown alarmingly fast.
In dry bulk, Handysizes and Panamaxes enjoy the tightest supply. Their vintage fleets are somewhat less than a quarter of their total fleets while their order books are only about 7% of their fleet. There is ample fleet renewal potential with the overage fleet being more than threefold the order book. Only Capesizes exhibit a rather younger fleet with just one tenth of the fleet being over 15 years old and fleet renewal metric approaching parity.
Oil tankers are another story. Distressingly, the Panamax/LR1 order book exceeds the vintage fleet. Aframaxes/Lr2s, Suezmaxes, and VLCCs have about 15% of their fleets on order with the order book of the latter just hitting 100 vessels. Only MR tankers are an exception exhibiting the lowest order book (shy 9% of the fleet) and a renewal ratio of over 2 overaged units for each unit on order.
To conclude, notwithstanding the volatility, the world fleet’s utilization ratio is a mere 80-85%. The world fleet is getting younger while average Vessel’s size larger. Vintage S&P prices will decline further as Vessels’ economic lives shorten. Regulations (and incentives?) will be a strong demolition force over the next years. However, risks still remain on the demand side with an aging economy of retiring consumers, an increasingly services-oriented growth, the plateauing of offshoring, and renewable energy competing with fossil fuels, the latter being the raison d'être of international shipping.
By Panos Tsilingiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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.
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Wednesday, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
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Showing 2026 to 2030 news of total 6871 |
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- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
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