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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- VISA Power Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
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