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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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Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
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