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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
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