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Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
 In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and developing countries continue to fall behind due to shortages of anti-crown vaccines. The bank raised its forecast by 1.5 points to 5.6% for global growth in 2021 with China touching 8.5% and the US at 6.8%.
Europe has been lagging the stimulus momentum of the US, but recently they made a decisive step with the European Central Bank President Christine Lagarde advising investors to prepare for a new guidance on monetary support in 10 days and heralded the possibility of new measures for next year to support the eurozone economy after the current bond emergency program expires. Speaking on Bloomberg TV, just days after the ECB raised its inflation target to 2%, Lagarde said there would be some interesting changes.
The West has been a major driver of demand for containers trade so far in 2021. Supply chain bottlenecks have sent shipping costs at record high levels on containers with bulkers following with freight rates reaching more than decade highs. The shortage of raw materials has pushed up prices and importers are raising the cost of goods, fueling fears of an inflationary spiral.
As freight rates have skyrocketed, containers orderbook has increased sharply at approx. 21% of the fleet, the highest level since Q4 2015, while the SnP activity on the sector has increased to the highest level ever recorded for 1H – with more than 300 transactions recorded. Despite the increase in transactions and the 100% to 200% spike in asset values particularly for intermediate TEU units since the beginning of the year, the market consensus is that there is more room to go. Until more vessels’ supply hits the market from 2023 onwards and/ or when current shortages rebalance with demand normalizing, it looks like container owners have an extended runway to take advantage of the upside.
Depending on the trade growth scenario over the next years, fleet additions across shipping sectors are expected to rise accordingly and dictate the pace of asset values evolution amongst other factors.
The BIMCO ICS Seafarer Workforce 2021 report has elaborated on 3 commercial fleet development scenarios, with low, stable and higher growth. In the low growth scenario, there will be an average of 567 ships entering the fleet each year, a significant decrease from the average of 955 ships in the baseline scenario. In a scenario of stable growth, the fleet will grow at a slower pace and is expected to have a compound annual growth rate (CAGR) of 0.75%. If world trade is better, the global fleet is expected to exceed 80,000 ships in 2025, with an annual growth rate of 1.75%. BIMCO says the course of the fleet also depends on the course of world trade.
By Zisis Stylianos,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- White Energy Company Limited
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Planning Commission, India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
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