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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
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