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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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Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
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- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
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