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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, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
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