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Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
 Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, many owners abstain from the newbuilding realm, especially in the wet and dry sector, while sticking to ageing fleets. During 1H22, fleet grew by 1.4% (est. 2.8% in 2022), which is way below the 10-year average growth of 3.6%. While new orders are not coming in fast enough to halt the trend of an ageing fleet, the introduction of EEXI, CII and EU ETS at the beginning of 2023, has resulted in a record of 61% of newbuild orders being alternative fuelled.
According to our data, tanker fleet renewal remains muted across 1H22. Overall, 31 vessels have been ordered within 2022 in the wet sector (with the orderbook standing at 5% of fleet capacity), of which 1 is methanol & ammonia ready, 1 is methanol fuelled, 2 are battery powered and 2 are LNG fuelled. With risks to the tanker demand still prevailing on the back of macroeconomic factors and high oil prices, the tanker market has witnessed significantly improved conditions in recent months, underpinned by shifts in trade patterns resulting in tonne-mile increase. Low stocks, paired with high refinery margins are expected to further boost trade growth in seaborne volumes and tonne-miles and contribute to the revival of an ageing fleet.
On the dry front, contracting activity hit low levels, partly on the back of uncertainty over decarbonization trends. Current orderbook stands at 7% of the fleet capacity, marking a 30-year low, which suggests a very limited growth capacity. According to our records, 85 bulkers have been ordered during 1H22, of which 5 are LNG fuelled or dual-fuelled, 3 being ammonia-ready/fuelled and 25 meeting EEDI phase 3 standards. Overall, 14 % of the total orderbook are alternative fuel capable, with Capesize segment leading the decarbonization pathway.
On the container front, however, the market sentiment is bullish with an orderbook at 28% of the fleet capacity. Amid disruptions to the world trade caused by the pandemic and a shortage of new vessels, freights have been rallying and therefore, fuelling owners’ appetite for boxhsips, which has prevailed during 1H22. More specifically, out of the total of 295 vessels ordered, 57 are dual-fuelled and LNG fuelled, 32 are methanol and ammonia-ready, while 31 meet EEDI phase 3 standards.
Newbuilding ordering activity has further been supported by the recent spree in LNG contracts. According to our data, contracting activity in the sector hit record highs with a total of 112 new vessels ordered within 2022, boosting the orderbook to 37% of the fleet capacity. Berths for the Qatar LNG project are monopolizing the owners’ interest, providing further support to the market. Out of the total of 112 vessels, 32 are booked for the Qatari project and 6 of them are dual or LNG-fuelled. Further supported by growth in LNG tonne-mile trade on the back of the sanctions on Russian gas from EU/US, and the recently announced plan for expansion of Qatar’s mega-plant and Cheniere’s Corpus Chritsti plant, market sentiment for LNG contracting activity remains firm.
By Chara Georgousi
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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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
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