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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, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
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- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
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