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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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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- CNBM International Corporation - China
- PTC India Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Planning Commission, India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
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