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