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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- The University of Queensland
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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