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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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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- The University of Queensland
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
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