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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, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
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