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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
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