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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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Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Australian Coal Association
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
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