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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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Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
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- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
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