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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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Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
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