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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, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PTC India Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Australian Coal Association
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
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