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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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Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
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