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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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- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
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