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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, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- The University of Queensland
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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