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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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Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
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