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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Siam City Cement - Thailand
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
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