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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- The University of Queensland
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
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