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