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