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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.
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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- The University of Queensland
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Planning Commission, India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
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