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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
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