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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- White Energy Company Limited
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Australian Coal Association
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
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