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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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Videocon Industries ltd - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
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