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