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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
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