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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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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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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
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