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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, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Australian Coal Association
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
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