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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- The University of Queensland
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
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