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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
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