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Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
 By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another school year, the shipping community – at least the Cape folks for now - is looking back on the year to date facts with some renewed enthusiasm for the year to come.
The BDI has moved to levels considerably stronger than the beginning of the year lows of 698 points and currently stands at 1,165 points ( after peaking at 1,179 points on July 1st – the year's high so far), mainly boosted by strengthened Capesize rates, which have increased 3-fold since the beginning of 2013. It will be interesting to see if the market leading index will be able to break the strong-resistance level of 1,200 points or not. Gains in smaller sectors have been more modest, all segments though currently earn above their respective daily OPEX.
Cape rates have been mainly driven by renewed iron ore activity to China, whilst strikes in Colombia and port congestions, pushed spot rates in levels last seen in November 2012. It is interesting that this latest surge came earlier this year, in the traditional summer lull, and not during the always more active Q4.
FFAs are pointing to a sustained growth during Q4, with Capes currently climbing close to $ 22,000/day, Panamaxes at below $ 10,000/day, Supras at excess of $ 10,000/day and smaller Handies at around $ 8,000/day. The next calendar year does not currently signal an impressive recovery, even though many analysts forecasted a more steep market improvement than the one painted by Baltic figures. Panamaxes have replicated last year's performance up to this point, while Supras and Handies have been better performers, compared to their bigger counterpart, proving their flexibility to adjust to volatile market conditions in the seaborne world trade.
SnP wise, it has been an interesting year thus far, with Greeks having a strong presence in both the second hand and the new building market. Japanese owned second-hand tonnage has proven particularly attractive for Greek buyers, who appear to be willing to pay a premium on the “last done”, even though rates have not been supportive of such a buying rush at this stage yet... New building activity has already surpassed last year's levels in most segments - mainly driven by owners' appetite for eco ships, but also by lower quoted prices, which have only recently started moving north again. Scrapping on the other hand has underperformed massively.
So, what's ahead? In Greece, we tend to change our educational system so often that students sometimes are not familiar with the new academic year's syllabus. Are we in face with a similar situation here? Well, the sentiment is more positive as of late and it seems that we won’t be moving in uncharted waters this time. It remains to see if the good captain will lead us to a safer port, i.e. improved/healthy market activity, or back to Scylla and Charybdis, i.e. uncertainties surrounding the global economy, China's slowing growth, capital exit from emerging markets, anemic growth in Europe, tonnage overcapacity etc. etc.
Chartering
Things were a bit more bright for VL owners this past week and in today’s market this simply means that further declines were avoided. Despite the fact that WS levels remained unchanged, activity e-Meg did manage to pick up significantly compared to the week before but, as always, there is still enough tonnage available to meet current requirements and deny any significant rate increases.
Rates for Suezmaes continued to slide further this week and despite the fact that the list of ballasters in the MG region isn't that long, fixing interest has significantly dropped. Most of the pain was nevertheless felt on fixtures e-WA. After some weeks of strong performance, the rate for the WA/USG voyage fell down to WS 52.5, while the TEC returned to the level below $ 10,000/day.
Afra rates continue to ignore the overall sluggishness of the crude oil carriers market. The firm number of enquiries in the Black Sea/Med region towards the end of the week has pushed the TCE in the area more than 35% up, while the big star of the week was no other than the north Sea/Baltic region where limited tonnage helped rates surge.
Chartering (Wet: Stable+ / Dry: Firm+)
With a lot of help from Capes, the Dry Bulk market has firmed further this past week. The big bulkers have once more pushed the BDI higher and the market looks ready to test new highs for the year once more. The BDI closed today (27/08/2013) at 1169 points, up by 4 points compared to Friday’s levels (23/08/2013) and an increase of 24 points compared to previous Tuesday’s levels (20/08/2013). Rates for Afras continue to win further ground mainly due to North Sea activity, while the recent Suezmax rate surge already feels like a distant memory as rates for the segment plummeted this week. The BDTI Friday (23/08/2013), was at 658 points, an increase of 14 points and the BCTI at 591, an increase of 39 points compared to the previous Friday’s levels (16/08/2013).
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
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Showing 4001 to 4005 news of total 6871 |
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- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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