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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
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