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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, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Australian Coal Association
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
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