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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Australian Coal Association
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
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