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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
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