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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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Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global ec ...
Friday, 18 December 20
AUSTRALIA PM WARNS OF ‘LOSE-LOSE’ IN ANY CHINA COAL SHIFT - REUTERS
Australian Prime Minister Scott Morrison said any shift by China away from importing high quality Australian coal would be a “lose-lose&rdquo ...
Friday, 18 December 20
BIG OIL AND COAL EXPORTERS FACE RECKONING AS PARIS AGREEMENT TURNS FIVE - CNA
On Dec 12, more than 70 global leaders came together at the UN’s Climate Ambition Summit, marking the fifth anniversary of the Paris Agreemen ...
Friday, 18 December 20
SOUTH AFRICAN COAL EXPORTERS LARGELY DEPENDENT ON THE ASIAN MARKETS - BANCHERO COSTA
South Africa is the fourth largest exporter of coal in the world, after Australia, Indonesia and Russia. In calendar 2019 the country exported a to ...
Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
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- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- The University of Queensland
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
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