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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, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
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- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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