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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
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