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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
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