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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, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- The University of Queensland
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
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