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