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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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Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
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