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