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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
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