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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, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand  ...
Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
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- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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