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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, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
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Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
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- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
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