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Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size segments holding on to their levels and those for Capes correcting upwards, while the spill-overs of the improved sentiment have yet to affect the Panamax market. The BDI closed today (25/02/2014) at 1,197 points, up by 23 points compared to yesterday’s levels (24/02/2014) and an increase of 51 points compared to previous Tuesday’s closing (18/02/2014). Rates for VLs stalled a bit as charterers took their time with the March schedule, while the rest of the crude carriers market enjoyed improvements positionally. The BDTI Monday (24/02/2014), was at 753 points, a decrease of 49 points and the BCTI at 606, an increase of 10 points compared to the previous Monday (17/02/2014).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
SnP activity has slowed down slightly this week, but at the same time second-hand prices remain on the rise while there is still plenty of buying interest to be found in the market. On the tankers side, we had the sale of the NICHIHIKO” (281,705dwt-blt 99, Japan), which was reported sold to Chinese buyer for a price of US$ 25.2m. On the dry bulker side, we had the sale of the “TRITON STORK” (56,024dwt-blt 04, Japan), which was also picked for a price of xs US$ 21.0m.
New building (Wet: Stable+ / Dry: Stable+)
Following a couple of weeks of stalling, newbuilding prices are on the rise again. With the average prices for all segments in the dry bulker and tanker sectors standing well above the average of both 2013 and 2012, it is interesting to make a couple of comparisons to the last time prices had reached these levels. Looking at Capes, the last time a new building was quoted at $ 56.0m was in January of 2011 when the average freight rate for the segment stood at around $ 10,000/day, almost identical to where it stands today. The last time a VL new building required $ 98.5m was around the end of 2011 when the average rate was in the $ 35,000/day region, which also coincides to today's levels. In hindsight, prices back then proved overinflated to the performance of the market but hopefully fundamentals are stronger this time around as the direction of the market has been upwards and not downwards as it was back in 2011 and two years down the line we won’t be looking back in 2014 as another time of over-excitement. In terms of new orders, Awilco AS has placed an order for two VLCCs (320,000dwt) at Daewoo, in S. Korea, for a price of $ 97.0m each and delivery set in 2016.
Demolition (Wet: Stable- / Dry: Stable-)
The demolition market is still reigned by Indian breakers, who currently appear to have ousted the rest of the competition from the race of securing demo candidates. As a matter of fact, with the exception of a couple of vessels, the rest of the deals reported this past week appear to have ended up in Indian hands. Breakers in the country have been enjoying the stability of the local currency, which posted its biggest winning streak against the US Dollar in the past couple of months after strengthening for three days in a row to this morning. At the time domestic steel mills have been preparing for another price hike, fact which offers further assertion to breakers operating in the country that their bids have been moving towards the right direction. While Bangladesh has managed to keep its prices stable, China and Pakistan appear to have no intention to compete at these high levels, with the former allowing for the gap between themselves and India to climb to over 120 $/ldt. Average prices this week for wet tonnage were at around 340-470$/ldt and dry units received about 330-460$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
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