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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, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Minerals Council of Australia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
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