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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
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