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