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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, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
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