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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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Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
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