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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Planning Commission, India
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- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
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- White Energy Company Limited
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- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
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- Savvy Resources Ltd - HongKong
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- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
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- India Bulls Power Limited - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
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- Energy Link Ltd, New Zealand
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- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
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- Star Paper Mills Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
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- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
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- Xindia Steels Limited - India
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- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
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- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
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- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
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