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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Planning Commission, India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
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