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