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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, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
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- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
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- TeaM Sual Corporation - Philippines
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- Ceylon Electricity Board - Sri Lanka
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- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
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- Indika Energy - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
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