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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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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Parliament of New Zealand
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- Marubeni Corporation - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Australian Coal Association
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
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