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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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Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
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