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