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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
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