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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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Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Planning Commission, India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- GMR Energy Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
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