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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.
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Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
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Showing 3906 to 3910 news of total 6871 |
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- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Economic Council, Georgia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- The University of Queensland
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
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