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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, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
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