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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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Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
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- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
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