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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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- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
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