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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
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