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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
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