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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
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