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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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Friday, 20 November 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 ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
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