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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.
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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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Showing 3811 to 3815 news of total 6871 |
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- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
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