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