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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, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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