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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
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