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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
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