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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Independent Power Producers Association of India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
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