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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, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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