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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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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
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