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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
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