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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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Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
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- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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