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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Australian Coal Association
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
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