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