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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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Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
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- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
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