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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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Thursday, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
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- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
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