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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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
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