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