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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Economic Council, Georgia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
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