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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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Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
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- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
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