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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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Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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