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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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Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
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- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Economic Council, Georgia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
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