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