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