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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
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