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