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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
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