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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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Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
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- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Minerals Council of Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
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