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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.
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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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- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
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