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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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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
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- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Australian Coal Association
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
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