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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, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
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