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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
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