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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, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
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