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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, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Planning Commission, India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Central Java Power - Indonesia
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