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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
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