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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- White Energy Company Limited
- GMR Energy Limited - India
- Xindia Steels Limited - India
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