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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
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