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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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- VISA Power Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
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