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Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
 For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market in the second half of this year has buoyed optimism amongst the people in the industry. Yet if you are to ask most shipowners if they are optimistic you will get a “yes...but...” reply.
On the dry bulk ship supply side (>20,000dwt), the world fleet has increased by 241 vessels year-on-year corresponding to a growth of about 2,4%, while one year earlier it was below 2%. Nonetheless, it's still a moderate fleet increase versus 4.4% percent real GDP growth of the emerging market and developing economies. For example, Bangladesh has 7.3% GDP Growth in 2019 and has also secured the top position in the world in achieving the highest GDP during the last 10 years.
The current dry bulk orderbook – not including slippage/cancellations – stands at 8.7% of the world fleet. Whilst there has been little order replenishment of bulk carriers in 2019, the orderbook is today merely bigger than what it was a year ago by about 50 vessels. Furthermore, we are amidst of environmental regulations coming into force, with water ballast management systems being retrofitted (or not) and the bunkers already transitioning to comply with the 2020 sulphur cap.
Compared to the same time last year we have about 80 more vessels over 20years old, and all the bulk carriers older than 20 years represent 9,5% of the dry bulk fleet.
On the tanker segment, things aren't less complicated. So far in 2019 there is less demolition activity, but also less new orders, while more ships have been delivered from the builders. The tanker fleet (>25,000dwt) has increased by about 3.5% led by MR tankers which increased by about 70 vessels, VLCCs followed with 55 vessels, 37 Aframaxes and just 15 Suezmaxes. The orderbook has not been replenished and is actually about 25% smaller than before, it represents about 7.7% of the trading fleet down from 10% same time last year. This rationalization of the orderbook, lays the foundation for a better future for the segment from the supply side alone.
On the other side of the equation for both dry and wet segments, there still is a growing demand for seaborne transportation. And while previously there were production disruptions, economic concerns, as well as political reasons that combined were suppressing the market, now there seems to be another combination that allows the freight rates to improve and drive the real demand for seaborne trade. The population continues to expand, emerging countries continue to absorb shipping goods and raw materials, so - still being the most fuel efficient and environmental friendly form of commercial transport – seaborne trade will continue to grow.
Although nobody can foresee if the current freight market is sustainable or not, the fundamentals suggest so, at least for the short term. We will continue to have supply disruptions, limited ordering and fleet expansion on the one side, and solid growth from the developing and emerging economies on the other. So, as we have many times argued that shipping is an infinite game and the objective of the players is to perpetuate the game, as we enter a new era with higher environmental awareness, it's a good entry point for investments and the upside is there as long as shipowners are patient and avoid overreactions.
By Theodore Ntalakos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
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