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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, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
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- Larsen & Toubro Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
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