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