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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
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