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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, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
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