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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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Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
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- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
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