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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, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
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