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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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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Central Electricity Authority - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
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- GMR Energy Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
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- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
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