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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
 The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contracting volumes of the respective segment remain low amidst a cocktail of different factors that have made both owners and shipbuilders focus on other sectors with Container one attracting most of the interest, followed by the Gas sector with massive orderbook plans having already begun. Among them, the steel prices and consequently the value of newbuildings have made owners pensive towards the construction of new vessels. Steel prices despite a recent downward correction are still on remarkable upper levels while both box ships and LNG vessels have occupied almost all the 2023-2024 slots meaning that any order is now dated for 2025 delivery onwards with shipbuilder participants happy to secure such units due to their higher profit margins. At the same time, a new paradigm with respect to the available tonnage supply has been evident during this year so far, in the sense that despite the softer Chinese demand, the shorter tonnage list is strong enough to support a multi-year upcycle.
According to our preliminary data, a total of fifty-one bulk carriers have been ordered during the first half of 2022. More specifically, twelve Handysize, twenty-five Ultramax, seven Kamsarmax, five Capesize and two Newcastlemax vessels were ordered so far this year accumulating a total amount of around 4.0 million dwt.
This amount is being added to an overall low orderbook to the fleet ratio which is standing now at 6.6%. More precisely, the largest rate is being witnessed in the Panamax/Kamsarmax sector with 8.2%, followed by Supramax/Ultramax with a 6.4% ratio, Capesize sector with a 6.2% and lastly the Handysizes with 4.8%. As far as the age is concerned, only 7.5% of the fleet is older than twenty years old while 20% of the fleet is under five years old. The low orderbook to fleet ratio is also being mirrored in the mediocre fleet growth of around 2.1-2.2% during 2022.
It is evident that the supply levels will remain in the owner's favor; while external factors including the high congestion levels, the redrawing of the traditional trade routes which are leading to a shift to longer trips, and the environmental regulations which will push more owners to dispose of their vintage units and to the adoption of slow steaming practices will further narrow down the supply list.
By Yiannis Parganas
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
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