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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
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