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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, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
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