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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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- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
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