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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, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
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