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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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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
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