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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- The University of Queensland
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
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