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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, 02 December 20
MARKET INSIGHT - INTERMODAL
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Thursday, 26 November 20
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Thursday, 26 November 20
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Wednesday, 25 November 20
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- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- The University of Queensland
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
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