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Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
 While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even speculate that 2021 will be a better year, even if the bar is set too low given to “what went down” last year.
The reality is that positive signs especially for the dry bulk market were seen as early as last summer when the market was slowly showing signs of better days to come. It took some time for shipowners to assimilate the possibility that we are heading towards better days - and nobody can blame them for being sceptical - but the increase on second hand transactions is the most obvious vote of confidence.
If we make a comparison between the number of transactions that materialized during the second half of 2019 and 2020, it is clear that despite the market challenges and uncertainty, investors' confidence remained strong during 2H2020 with second hand deals being up by 18% compared to last year transactions with the most notable acceleration taking place during December.
Of course, this is not the first time that the dry bulk transactions have experienced increased activity. What makes this period different compared to the previous time in my opinion is that it's not only sentiment driven.
Dry Bulk commodity prices have recently experienced an inflection to multi-year highs, amid increased demand after the market got used to a COVID-19 reality. The weather played its part with record low temperatures which favoured coal demand but also created congestion at discharging ports, on top of China’s coal import restrictions from Australia.
Adding to this mix the fact that we expect fleet growth to remain subdued in the next 2 years, it does not take much for the demand - supply balance to improve.
So now we have a perfect storm and this time the storm is working for the market’s favor. It has been a while since the last time this has happened.
It's normal to expect that eventually new building contracting activity will increase but this will only start taking place once second hand values reach levels that are not sustainable. For now, second hand vessels make sense, and let's hope that owners will not rush to NBs as they have done in the past.
Not leaving sentiment out of the equation, we could also speculate that the positive effect expected by the Regional Comprehensive Economic Partnership which is expected to largely influence the container market will rub off to the dry market as well.
Overall, things are looking up and if the order book stays in check the market will do more than just ok in the years to come.
By Timos Papadimitriou,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
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