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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, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
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