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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
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