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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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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Trasteel International SA, Italy
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- VISA Power Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
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