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Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
 "2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbreak leading to lock-downs around the world, the continuation of the trade war between US and China, China's coal ban from Australia, were just a few of them. On the other hand, 2020 also brought record stimulus packages globally, trillions of US Dollars, Euros and Renminbis that were thrown into the race to fight the recession that the corona-virus would bring otherwise. The shipowners and the shipping industry as a whole quickly adapted to the new standards and made the best out of the situation in the second half of last year. Furthermore, the stimulus combined with the newly emerged spending and consuming patterns and of course the COVID-19 vaccination programs around the globe are leading the way back to normality.
The dry bulk market entered 2021 on a high note supported by the broader inflection in commodity prices and increased congestion at discharging ports in China. China’s domestic thermal coal prices hit new record highs, while coal imports from all countries surged to record levels in December, lifting the annual total to its highest since 2013. In past years, Australia has been the country’s second-biggest supplier after Indonesia but the ban on Australian coal - keeping not less than 70 vessels stranded with coal outside China - has been particularly supportive for Panamax, Supramax, and Handysize bulkers, further aided by the rising coastal coal trade in China and alternative to Australia coal origins. Imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, while high utilisation at domestic suppliers is expected to soften high local prices just as colder than average temperatures fade and domestic coal output normalizes.
Another factor to support Panamax and Supramax freight in 2021 is corn and soybean trade. Corn prices have hit multi-year highs on strong demand from China, which has been sourcing increasingly from the US in the context of the Phase 1 trade deal, while production prospects of major suppliers such as Ukraine and Argentina look weaker. US corn futures, a global benchmark, were trading 60% higher from a 10-year low seen in April 2020. The US, the world's largest corn exporter, has seen its 2020-21 total commitments reaching record highs as buyers, again with China leading, rush to secure supplies amid tightening global corn stocks. What is more, Brazil soybean production for 2021 is projected at record high levels, pointing to another strong ECSA export season.
On the supply side, the firm orderbook is currently at a new record low of 5.8% of the fleet (down from approx.10.0% during the same period last year) at 53.4 million dwt or just over 600 vessels, while dry bulk scrap prices surged during the first month of the year, following the broader trend in steel and iron ore prices.
2020 did not offer the best conditions or stability needed for dry new buildings and as such there has been little order replenishment of bulk carriers in 2020 so the orderbook is today smaller than what it was a year ago by about 200 vessels. More specifically, in the new building orderbook out of the about 440 vessels scheduled to be delivered in 2021 only about 350 may actually be delivered assuming a 20% slippage, while there are around 375 trading vessels which are 25 years old or more and thus make candidates for demolition over the next two years. As a result, we project dry bulk fleet to grow by substantially less than 1.5%-2.0% in the next couple of years."
By Theodore Ntalakos,
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Planning Commission, India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
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