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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, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- SMC Global Power, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
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