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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
 Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of supply of goods. We are witnessing an ongoing situation that is still evolving and the effects could be profound and long-term. Accordingly, how the shipping industry will look like post the pandemic is clouded and yet to be seen.
With international transport at the cutting edge of trade and dependent on travel and human interaction, the maritime industry has been wedged both directly and indirectly from the covid-crisis.
Focusing on the EU trade it has been reported that the number of vessel calls at EU ports declined by about 10.2% in 2020 compared to 2019. However, in February 2019, there were 50,823 ship calls at EU ports versus February 2021 that there were 51,157 ship calls. Therefore, it has lately been ascertained that the number of calls have increased by 1% in comparison with 2019, as trade activity in certain shipping sectors has rebounded YTD in 2021.
The most significantly impacted sectors basis vessel’s calls at EU ports between 2019 and 2021, have been the cruise sector, passenger ships, refrigerated cargo vessels and vehicle carriers. In 2020, the ship traffic from Europe to China and the US has declined when compared to same periods in 2019 while this destructive trend continues in 2021 for certain shipping sectors. The EMSA report has indicated that the Cruises’ sector was the most heavily impacted one by the outbreak. Other sectors were also affected, but in general the trade didn’t cease with the main beneficiary over the past few months being the containers sector. As the epidemic continues to roll, ports have faced an unprecedented number of vessels at anchor and vessels queue-up waiting to discharge with logistics disruptions contributing to multi-year high container freight rates.
During 2020, the imports from China to EU were heavily impacted especially since May 2020 and onward with only 36% of their usual volume of port calls coming into the EU from China. In reference to exports from Europe to China the first leading decline occurred in March 2020 with the number of port calls originated by the EU and destined to China, equal to only 58% of the volume of these port calls when compared with May 2019. Furthermore, USA used to be the biggest trading partner of the EU, but volumes were severely impacted, and China emerged instead as its largest trading partner. Asia’s exports to the West have emerged stronger in early 2021 with US containerized imports in particular - from Asia estimated up by approx. 29.0% y-o-y. The trend looks set to continue and is expected to exacerbate container vessels congestion in the west, as demand emerges stronger amid an unprecedented stimulus package in the US.
Unluckily, this worldwide outbreak has imposed urgent challenges for both the import and export trade for most of the ports around the globe. In addition, various disputes arose between Charterers and Owners, in reference to vessels’ hire period, lay-time, and discussions of relevant clauses. Repeatedly, the force majeure of the pandemic and the quarantine time prevented the contract completion as initially agreed and accordingly, the hire period agreement was surpassed in many charter parties worldwide. However, in sequence, the multiplier effect to trade from stimuli across the globe, excess consumer savings and increased congestion at ports has led certain shipping sectors to experience multi-year or record high freight rates with the hope that the new upward cycle that has emerged will be sustained.
As a general comment, despite the difficulties, commercial ship operations, ports and other maritime transport sectors have continued to operate ensuring the movement of products and proving the strategical value of maritime for our livelihoods.
By Katerina Restis,
Tanker Chartering
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, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Australian Coal Association
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- The University of Queensland
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
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