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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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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
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