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