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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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- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
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