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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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Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
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- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
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