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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
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