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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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Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
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