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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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Showing 3806 to 3810 news of total 6871 |
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- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
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