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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
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