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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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