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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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Friday, 20 November 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 ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Planning Commission, India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- White Energy Company Limited
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
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