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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.
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, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
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