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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
 Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of supply of goods. We are witnessing an ongoing situation that is still evolving and the effects could be profound and long-term. Accordingly, how the shipping industry will look like post the pandemic is clouded and yet to be seen.
With international transport at the cutting edge of trade and dependent on travel and human interaction, the maritime industry has been wedged both directly and indirectly from the covid-crisis.
Focusing on the EU trade it has been reported that the number of vessel calls at EU ports declined by about 10.2% in 2020 compared to 2019. However, in February 2019, there were 50,823 ship calls at EU ports versus February 2021 that there were 51,157 ship calls. Therefore, it has lately been ascertained that the number of calls have increased by 1% in comparison with 2019, as trade activity in certain shipping sectors has rebounded YTD in 2021.
The most significantly impacted sectors basis vessel’s calls at EU ports between 2019 and 2021, have been the cruise sector, passenger ships, refrigerated cargo vessels and vehicle carriers. In 2020, the ship traffic from Europe to China and the US has declined when compared to same periods in 2019 while this destructive trend continues in 2021 for certain shipping sectors. The EMSA report has indicated that the Cruises’ sector was the most heavily impacted one by the outbreak. Other sectors were also affected, but in general the trade didn’t cease with the main beneficiary over the past few months being the containers sector. As the epidemic continues to roll, ports have faced an unprecedented number of vessels at anchor and vessels queue-up waiting to discharge with logistics disruptions contributing to multi-year high container freight rates.
During 2020, the imports from China to EU were heavily impacted especially since May 2020 and onward with only 36% of their usual volume of port calls coming into the EU from China. In reference to exports from Europe to China the first leading decline occurred in March 2020 with the number of port calls originated by the EU and destined to China, equal to only 58% of the volume of these port calls when compared with May 2019. Furthermore, USA used to be the biggest trading partner of the EU, but volumes were severely impacted, and China emerged instead as its largest trading partner. Asia’s exports to the West have emerged stronger in early 2021 with US containerized imports in particular - from Asia estimated up by approx. 29.0% y-o-y. The trend looks set to continue and is expected to exacerbate container vessels congestion in the west, as demand emerges stronger amid an unprecedented stimulus package in the US.
Unluckily, this worldwide outbreak has imposed urgent challenges for both the import and export trade for most of the ports around the globe. In addition, various disputes arose between Charterers and Owners, in reference to vessels’ hire period, lay-time, and discussions of relevant clauses. Repeatedly, the force majeure of the pandemic and the quarantine time prevented the contract completion as initially agreed and accordingly, the hire period agreement was surpassed in many charter parties worldwide. However, in sequence, the multiplier effect to trade from stimuli across the globe, excess consumer savings and increased congestion at ports has led certain shipping sectors to experience multi-year or record high freight rates with the hope that the new upward cycle that has emerged will be sustained.
As a general comment, despite the difficulties, commercial ship operations, ports and other maritime transport sectors have continued to operate ensuring the movement of products and proving the strategical value of maritime for our livelihoods.
By Katerina Restis,
Tanker Chartering
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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Minerals Council of Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
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