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Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
 In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and developing countries continue to fall behind due to shortages of anti-crown vaccines. The bank raised its forecast by 1.5 points to 5.6% for global growth in 2021 with China touching 8.5% and the US at 6.8%.
Europe has been lagging the stimulus momentum of the US, but recently they made a decisive step with the European Central Bank President Christine Lagarde advising investors to prepare for a new guidance on monetary support in 10 days and heralded the possibility of new measures for next year to support the eurozone economy after the current bond emergency program expires. Speaking on Bloomberg TV, just days after the ECB raised its inflation target to 2%, Lagarde said there would be some interesting changes.
The West has been a major driver of demand for containers trade so far in 2021. Supply chain bottlenecks have sent shipping costs at record high levels on containers with bulkers following with freight rates reaching more than decade highs. The shortage of raw materials has pushed up prices and importers are raising the cost of goods, fueling fears of an inflationary spiral.
As freight rates have skyrocketed, containers orderbook has increased sharply at approx. 21% of the fleet, the highest level since Q4 2015, while the SnP activity on the sector has increased to the highest level ever recorded for 1H – with more than 300 transactions recorded. Despite the increase in transactions and the 100% to 200% spike in asset values particularly for intermediate TEU units since the beginning of the year, the market consensus is that there is more room to go. Until more vessels’ supply hits the market from 2023 onwards and/ or when current shortages rebalance with demand normalizing, it looks like container owners have an extended runway to take advantage of the upside.
Depending on the trade growth scenario over the next years, fleet additions across shipping sectors are expected to rise accordingly and dictate the pace of asset values evolution amongst other factors.
The BIMCO ICS Seafarer Workforce 2021 report has elaborated on 3 commercial fleet development scenarios, with low, stable and higher growth. In the low growth scenario, there will be an average of 567 ships entering the fleet each year, a significant decrease from the average of 955 ships in the baseline scenario. In a scenario of stable growth, the fleet will grow at a slower pace and is expected to have a compound annual growth rate (CAGR) of 0.75%. If world trade is better, the global fleet is expected to exceed 80,000 ships in 2025, with an annual growth rate of 1.75%. BIMCO says the course of the fleet also depends on the course of world trade.
By Zisis Stylianos,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
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