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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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Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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Showing 3816 to 3820 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
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