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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
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