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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Planning Commission, India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Wilmar Investment Holdings
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