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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- The University of Queensland
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
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