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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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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- MS Steel International - UAE
- PTC India Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
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