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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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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
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