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