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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- PTC India Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
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