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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
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