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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
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- Eastern Coal Council - USA
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- Tata Chemicals Ltd - India
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- Sical Logistics Limited - India
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- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
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- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
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- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
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- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
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