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