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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.
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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
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