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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, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
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