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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, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
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- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Central Electricity Authority - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
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