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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
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