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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 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
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