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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
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