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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
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