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