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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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Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
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