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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, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- White Energy Company Limited
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
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