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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- PTC India Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
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