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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, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
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