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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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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 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Planning Commission, India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
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