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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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Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Planning Commission, India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Latin American Coal - Colombia
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- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
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- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
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