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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- The Treasury - Australian Government
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
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