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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, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Petron Corporation, Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Australian Coal Association
- Baramulti Group, Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
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