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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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
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