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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, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
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- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
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