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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
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