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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
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