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Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
 As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see how last year ended and what shall we expect for the months ahead...
What a great finish for the year it has been for bulkers, with the BDI reaching the highest level since 2010 at 2,337 points by mid-December, with Capes reaching just over the 40,000 USD/day-mark; smaller classes did not fare that well, but definitely better than during the anemic 1st half of the year.
What happened since then? We have seen the indices retreating heavily during the holidays, with the BDI losing around 1,000 points, bottoming out at 1,370 points, having only just returned to positive territory with Capes leading the way after the difficulties they faced earlier in the month.
Sentiment remains strong within the dry sector, with expectations of better times ahead, due to a slower rate in new building deliveries and improved prospects for global economic growth, according to the latest growth revisions by the World Bank...Is this the full story though??
China's economic growth continues to cool; China will manage to pass the official target of 7.5% growth for 2013 as a whole, but at the same time this is its lowest figure for any year since at least 1999, as per the Financial Times.
The United States, on the side of the Atlantic, while still struggling to overpass the so-called 'fiscal gap', do not seem strong enough to be able to provide world trade with the necessary support, fact that one sees by just looking at the levels freight rates container vessels have reached.
Last but not least, Europe remains as always romantic, focusing on President Hollande’s personal affairs, while at the same time austerity imposed by the North is still suffocating the South and while all appears to be working perfect in theory, the truth is that austerity measures and lack of bank financing are still placing a lot of pressure on the more fragile economies such as the Greek one.
And then you have the supertankers, waking up from their long hibernation whilst being in the mid-winter season, now commanding rates in excess of USD 100,000 per day despite having been in the doldrums for most part of 2012 and 2013...
The fundamentals are simply not there yet, but this doesn’t seem to deter Owners who seem as if they simply don’t care and trying to enjoy as much as they can from this unexpected scoop!
So, what’s next? What will the Year of the Horse bring for shipping? Who will be this year’s Horse Whisperer? Enjoy the ride... but beware of the obstacles.
- by George Bassakos, SnP Broker -
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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
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