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