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