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