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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
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Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
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Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
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