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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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Economic Council, Georgia
- Sojitz Corporation - Japan
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
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