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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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