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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bhatia International Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
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