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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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- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
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