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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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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
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