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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, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
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