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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, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
Tuesday, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
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- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
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