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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- The University of Queensland
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
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