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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
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