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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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
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