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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
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- Romanian Commodities Exchange
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
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