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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
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