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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, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Australian Coal Association
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- PTC India Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
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