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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- ASAPP Information Group - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
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