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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
 With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantly affected the dry bulk industry compared to other industries. Castor Maritime stars in stock performance, with Seanergy Maritime, which operates in the Capesize sector, and Navios Maritime which follows in the ranking of high returns.
The gradual recovery of the global economy has triggered an increase in loads of raw materials such as coal and iron ore, as industries have "lit" the "engines" again. For example, steel production (for which iron ore is an essential component) in Asia has increased by 6% in December 2020, reaching 118.6 million tonnes. In China, which is the largest producer in the world, growth in December 2020 was even higher, rising to 7.7%, or 91.2 million tonnes.
As per the world's largest shipowner union (BIMCO), the Capesize cargo ship market is recorded as a "rally" of fares. In the first 20 days of January 2021, 1,427 Capesize business trips were recorded, an increase of 10.4% over the corresponding period last year. According to BIMCO's analysis, among the factors that have contributed to increased transport demand through Capesize tonnage is the increase in electricity production in China, which is mainly fuelled through the use of coal. As a case, coal imports, which are normally carried out by cargo ships such as Capesize units, have increased. The increased demand for electricity is due to the wave of bad weather that has hit the Far East in recent weeks.
Moreover, the International Monetary Fund forecast is pointing to a higher recovery in the global economy in 2021, compared to last October. In particular, IMF estimates that the world economy will grow this year at a rate of 5.5% compared to the 5.2% that it was estimated back in October, while for 2022 it kept unchanged its forecast for growth of 4.2%. In contrast to the global economy, for the eurozone economy, the IMF forecasts a lower growth rate in 2021, namely 4.2% compared to the 5.2% forecast in October, while for 2022 it forecasts growth of 3.6% versus 3.1%, respectively. The forecast for recovery in the United States this year has been revised upward by two percentage points – to 5.1% from 3.1% in October – reflecting a strong momentum in the second half of 2020 and an additional support from the December 2020 fiscal package.
The International Monetary Fund foresees differences in the recovery path of developed economies. More specifically, both the United States and the Japanese economies expected to recover in the second half of 2021 and reach the level of GDP they had at the end of 2019 (before the coronavirus crisis). On the other hand, Eurozone and British growth domestic product is expected to remain lower in 2022 when compared to the levels at the end of 2019.
By Zisis Stylianos,
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
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