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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
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