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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 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
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- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
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