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