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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
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