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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, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
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