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Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the global social and economic effects of Covid-19 pandemic during the first half of 2020.
The newbuilding sector has been rather discouraging in terms of its activity levels over the past summer lull period of time. Over the past summer months, the asset investment decision between purchasing a newbuilding versus a modern secondhand dry bulk vessel has been illustrated. Owners are inclined to choose respective modern ships owing to the lucrative price discounts on display over pricey, time and capital intensive newbuildings. Both vessel investments do not differ significantly in terms of operational efficiencies. Sectoral newbuilding analysis has shown that dry bulk vessel orders remained at significant lows over the past summer months whereas tanker candidates (especially MR and clean product vessels) monopolized the global vessel orderbook with volumes however being at low levels.
Owners are not able to pin down their future green fleet-composition strategies adding an extra burden on shipyards which are already struggling to stay afloat during the pandemic. The shipping industry’s “divided” view on the commercial and long-term implementation feasibility of eco-friendliness and sustainability is causing concern and investment ambiguity. The key rationale behind this uncertainty is that there is a need to promote decarbonization in shipping by reducing its carbon footprint. This will be achieved through the further digitization of vessels and their navigation technologies. Current eco-friendly alternatives in shipping include LNG-fueled vessels & carrier of ammonia, alternative propulsion fuels and batteries. The path towards greener shipping is non-trivial and most definitely non-obvious. Therefore, this cloud of uncertainty regarding eco-friendliness has adversely impacted newbuilding orders.
This widespread scepticism is more than justified when taking the example of scrubbers into consideration. Up to now scrubber installations have simultaneously seen a decent amount of praise and criticism. Scrubbers have not yet been proven to be environmentally friendly and their exact effects on the environment remain to be seen. In the end of 2019, the low Sulphur to high Sulphur fuel oil price differential was over $350/ton, which rendered the decision to install scrubbers an intuitive one. However, with the differential falling to below half the aforementioned value, scrubber adoptions have seen a rapid cessation, and this has adversely impacted the respective investor sentiment for eco-friendly newbuildings further.
The last quarter of the year is ahead us, however the economic fundamentals remain weak and poised towards a bleak year over year newbuilding orderbook. The soft freight market activity in both the dry bulk and tanker sector coupled with the aforementioned necessity for environmentally friendly adoptions have pushed potential newbuilding investors to the sidelines. This new reality, has intensified the competition among shipyards for the less available newbuilding order market share. Nonetheless, in every crisis there is always a story silver lining which in the newbuilding front is depicted by the smiles of owners who are destined to see a substantial overall fleet supply decrease with the current year contracting activity being analogous to the 2017 very low levels.
By Yiannis Parganas
Market Analyst
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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Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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Showing 726 to 730 news of total 6871 |
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- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
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