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