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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- MS Steel International - UAE
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
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