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