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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, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
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