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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Australian Coal Association
- McConnell Dowell - Australia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- White Energy Company Limited
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
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