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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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Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Independent Power Producers Association of India
- MS Steel International - UAE
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
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