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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Economic Council, Georgia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
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