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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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Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- The University of Queensland
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
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