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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
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