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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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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Petron Corporation, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
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