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