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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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Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Planning Commission, India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Minerals Council of Australia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
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