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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
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