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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- The University of Queensland
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
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