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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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Monday, 26 October 20
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KNOWLEDGE TO ELEVATE
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Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
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Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
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- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- The University of Queensland
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
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