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Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
 The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strain on healthcare systems, COVID-19 also adversely impacted global businesses, trade, supply chains and economies. The maritime industry has been faced with extended regulatory constraints on international, national and regional levels in an attempt to contain the spread of the pandemic. Our industry has once again dynamically adapted to change by embracing the “new normal” modus operandi that the virus has imposed on shipping.
On the dry bulk ship supply side, the world fleet has increased by about 350 vessels y-o-y at an approximate 3.4% annual growth rate whereas growth rates in 2019 and 2018 were 2.5% and 2% respectively. The current dry bulk orderbook – excluding slippage/cancellations – stands below 6% of the world fleet. As expected, dry bulk order replenishment in 2020 has been minimal to date; the sector’s orderbook diminished y-o-y by about 200 vessels. The number of vessels aged over 25 years has increased by around 50 from last September while 20-plus year-old bulk carriers constitute about 9.5% of the dry bulk fleet.
The 171-tanker y-o-y vessel fleet increase (just over 3% of total fleet) was led by the MR segment and comprised of 74 MR, 40 VLCC, 18 Suezmax, 16 Aframax/LR2, 14 Handy and 9 Panamax/LR1 vessel additions. All-in-all this was a good year for tankers; the tanker orderbook is marginally smaller as compared to September 2019 – it is down by ca. 15 vessels. It is worth noting that the tanker orderbook had declined by over 100 vessels last year. The current tanker orderbook to fleet ratio is about 7% which is a 5-year low and the 20-plus year-old vessel fleet recorded an increase of around 100 ships.
The tough measures employed globally to limit the spread of COVID-19 have caused an economic slowdown in both emerging and developed nations. A number of countries have thus far avoided severe economic adversities via the use of aid from sizeable fiscal and monetary policy support packages. Economic growth forecasts for all regions are dire and a worldwide GDP contraction is projected (at least) for 2020. However, the current freight market (especially for the dry segment) illustrates that there is still a growing demand for seaborne transportation. It can be argued that the pandemic is just an “additional” disruption which the shipping industry is charged with tackling. This disruption is analogous to previous shipping market suppressants such as production interruptions, economic concerns and political instability. At the end of the day, one has to be reminded that shipping is an infinite game and its perpetuation should be the key governing objective behind all of its players.
By Theodore Ntalakos
SnP Broker
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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- The University of Queensland
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
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