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