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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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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bhatia International Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
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