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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
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