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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, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- The University of Queensland
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
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