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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
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