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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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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
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