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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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