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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.
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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
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