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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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Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
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