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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
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