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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
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