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Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
 "2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbreak leading to lock-downs around the world, the continuation of the trade war between US and China, China's coal ban from Australia, were just a few of them. On the other hand, 2020 also brought record stimulus packages globally, trillions of US Dollars, Euros and Renminbis that were thrown into the race to fight the recession that the corona-virus would bring otherwise. The shipowners and the shipping industry as a whole quickly adapted to the new standards and made the best out of the situation in the second half of last year. Furthermore, the stimulus combined with the newly emerged spending and consuming patterns and of course the COVID-19 vaccination programs around the globe are leading the way back to normality.
The dry bulk market entered 2021 on a high note supported by the broader inflection in commodity prices and increased congestion at discharging ports in China. China’s domestic thermal coal prices hit new record highs, while coal imports from all countries surged to record levels in December, lifting the annual total to its highest since 2013. In past years, Australia has been the country’s second-biggest supplier after Indonesia but the ban on Australian coal - keeping not less than 70 vessels stranded with coal outside China - has been particularly supportive for Panamax, Supramax, and Handysize bulkers, further aided by the rising coastal coal trade in China and alternative to Australia coal origins. Imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, while high utilisation at domestic suppliers is expected to soften high local prices just as colder than average temperatures fade and domestic coal output normalizes.
Another factor to support Panamax and Supramax freight in 2021 is corn and soybean trade. Corn prices have hit multi-year highs on strong demand from China, which has been sourcing increasingly from the US in the context of the Phase 1 trade deal, while production prospects of major suppliers such as Ukraine and Argentina look weaker. US corn futures, a global benchmark, were trading 60% higher from a 10-year low seen in April 2020. The US, the world's largest corn exporter, has seen its 2020-21 total commitments reaching record highs as buyers, again with China leading, rush to secure supplies amid tightening global corn stocks. What is more, Brazil soybean production for 2021 is projected at record high levels, pointing to another strong ECSA export season.
On the supply side, the firm orderbook is currently at a new record low of 5.8% of the fleet (down from approx.10.0% during the same period last year) at 53.4 million dwt or just over 600 vessels, while dry bulk scrap prices surged during the first month of the year, following the broader trend in steel and iron ore prices.
2020 did not offer the best conditions or stability needed for dry new buildings and as such there has been little order replenishment of bulk carriers in 2020 so the orderbook is today smaller than what it was a year ago by about 200 vessels. More specifically, in the new building orderbook out of the about 440 vessels scheduled to be delivered in 2021 only about 350 may actually be delivered assuming a 20% slippage, while there are around 375 trading vessels which are 25 years old or more and thus make candidates for demolition over the next two years. As a result, we project dry bulk fleet to grow by substantially less than 1.5%-2.0% in the next couple of years."
By Theodore Ntalakos,
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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- White Energy Company Limited
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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