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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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- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- White Energy Company Limited
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
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