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