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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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Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
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- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- White Energy Company Limited
- SMC Global Power, Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
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