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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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Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
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Showing 806 to 810 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- White Energy Company Limited
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
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