We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
|
|
|
Showing 4061 to 4065 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
