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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
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