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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, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
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- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
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