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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
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