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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
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