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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, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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