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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
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