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