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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Planning Commission, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
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