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