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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
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