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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
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