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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, 02 September 20
INDONESIA COAL PRICE REFERENCE DIVES FURTHER IN SEPTEMBER DUE TO SUBDUED DEMAND & GLOBAL OVERSUPPLY
Subdued demand & global oversupply pushed down this month's HBA
COALspot.com: The Indonesia Coal Price Reference ...
Tuesday, 01 September 20
WHY INDIA CAN'T MATCH THE GULF REGION'S RECORD-LOW SOLAR TARIFFS - IEEFA
5-10% annual decline in tariffs estimated for the next decade
A number of countries in the Gulf region have set record-low prices for solar in ...
Tuesday, 01 September 20
COVID-19 PUSHES US LNG INTO A TIGHT SPOT - DREWRY
The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long ...
Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
The UK Supreme Court has granted leave to appeal the recent decision in Alize 1954 v Allianz Elementar Versicherungs AG ( ...
Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
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Showing 801 to 805 news of total 6871 |
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- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- PTC India Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
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