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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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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- PTC India Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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