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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
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