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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Mjunction Services Limited - India
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- Samtan Co., Ltd - South Korea
- White Energy Company Limited
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- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Latin American Coal - Colombia
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- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
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- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
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- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
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- Renaissance Capital - South Africa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
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- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Economic Council, Georgia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Australian Coal Association
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- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
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