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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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Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
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