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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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- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Australian Coal Association
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
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