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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
 With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantly affected the dry bulk industry compared to other industries. Castor Maritime stars in stock performance, with Seanergy Maritime, which operates in the Capesize sector, and Navios Maritime which follows in the ranking of high returns.
The gradual recovery of the global economy has triggered an increase in loads of raw materials such as coal and iron ore, as industries have "lit" the "engines" again. For example, steel production (for which iron ore is an essential component) in Asia has increased by 6% in December 2020, reaching 118.6 million tonnes. In China, which is the largest producer in the world, growth in December 2020 was even higher, rising to 7.7%, or 91.2 million tonnes.
As per the world's largest shipowner union (BIMCO), the Capesize cargo ship market is recorded as a "rally" of fares. In the first 20 days of January 2021, 1,427 Capesize business trips were recorded, an increase of 10.4% over the corresponding period last year. According to BIMCO's analysis, among the factors that have contributed to increased transport demand through Capesize tonnage is the increase in electricity production in China, which is mainly fuelled through the use of coal. As a case, coal imports, which are normally carried out by cargo ships such as Capesize units, have increased. The increased demand for electricity is due to the wave of bad weather that has hit the Far East in recent weeks.
Moreover, the International Monetary Fund forecast is pointing to a higher recovery in the global economy in 2021, compared to last October. In particular, IMF estimates that the world economy will grow this year at a rate of 5.5% compared to the 5.2% that it was estimated back in October, while for 2022 it kept unchanged its forecast for growth of 4.2%. In contrast to the global economy, for the eurozone economy, the IMF forecasts a lower growth rate in 2021, namely 4.2% compared to the 5.2% forecast in October, while for 2022 it forecasts growth of 3.6% versus 3.1%, respectively. The forecast for recovery in the United States this year has been revised upward by two percentage points – to 5.1% from 3.1% in October – reflecting a strong momentum in the second half of 2020 and an additional support from the December 2020 fiscal package.
The International Monetary Fund foresees differences in the recovery path of developed economies. More specifically, both the United States and the Japanese economies expected to recover in the second half of 2021 and reach the level of GDP they had at the end of 2019 (before the coronavirus crisis). On the other hand, Eurozone and British growth domestic product is expected to remain lower in 2022 when compared to the levels at the end of 2019.
By Zisis Stylianos,
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
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