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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Australian Coal Association
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
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