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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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