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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, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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