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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, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
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- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Wood Mackenzie - Singapore
- The University of Queensland
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
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