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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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