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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
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