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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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Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
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- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- VISA Power Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Interocean Group of Companies - India
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