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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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