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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, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- The University of Queensland
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
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