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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
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 ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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