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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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- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- The University of Queensland
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
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