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