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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
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