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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
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