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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
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