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