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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, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
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