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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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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- The University of Queensland
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
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