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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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- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
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