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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
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