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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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- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
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