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