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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, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
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- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- The University of Queensland
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Planning Commission, India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
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