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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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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- PTC India Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
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