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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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Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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Showing 776 to 780 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
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