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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- PTC India Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- The Treasury - Australian Government
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
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