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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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Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Thai Mozambique Logistica
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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