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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
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