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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, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview
An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...
Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview
A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...
Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to restart it ...
Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial electricity demand ...
Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
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- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
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