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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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Friday, 06 November 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 ...
Thursday, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
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- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Economic Council, Georgia
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