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