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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, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
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- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
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- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
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- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
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