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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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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
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Friday, 04 December 20
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Wednesday, 02 December 20
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Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
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- The University of Queensland
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
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