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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- PTC India Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
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