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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, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
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- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
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