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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
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- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sakthi Sugars Limited - India
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