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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
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