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