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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Videocon Industries ltd - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
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