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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, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Australian Coal Association
- White Energy Company Limited
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
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