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Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
 The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong market, very few anticipated the levels we have seen to date. While both supply and demand forces have acted favorably, the rebound of dry bulk freight rates to multi year highs was primarily demand led. A synchronized record high economic stimulus across the globe, led by China, in order to prop up the economies from the COVID-19 shock was the major catalyst.
The multiplier effect in dry bulk commodities demand came in V shape and materialized into a counter seasonal freight surge to multiyear highs throughout the 1H2021. Furthermore, quarantines related to COVID-19 and elevated congestion have led to fleet inefficiencies across basins, which along with a decelerating dry bulk fleet growth have helped to further tighten the demand supply balance. On the new building front, ordering has been moderate – similar levels with 2020 – steel price surging and solid demand has led Builders to increase their prices, which refrained owners from turning to new buildings.
The global container shipping industry has also recorded a long-awaited increase in demand. An unprecedented shortage in containers amid surging demand for consumer goods since the pandemic started has sent container freight rates to record high levels. Also, port congestion and logistical disruptions exacerbated by the Suez Canal incident have contributed to the surge. With global GDP growth projections revised to 6.0% and savings rates still high, the multiplier effect on container rates should continue in the medium term. Demand will eventually normalize as consumers’ preferences shift back to services with the economies reopening, but freight rates are expected to remain elevated despite a potential gradual softening from record highs.
The turning point will be when high trade costs spill over to prices of final goods and inflation starts hitting consumers’ income. For the time being, global manufacturing PMIs stand at multi-year highs and assuming that we have reached the mid-cycle in PMIs as many analysts have signaled, there will be a lag factor in demand reaction from surging trade costs. We do observe an increase in NB activity (see graph) with orderbook now close to 17% of the fleet, which is not expected to impact the market with accelerating fleet supply growth until later in 2023.
By Theodore Ntalakos,
SnP Broker
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
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